Explain what you expect to achieve and how you think the principles and or concepts willhelp you achieve your desired outcome

Objective of the assignment (structure of your assignment as well)1. Find a business situation (workplace situation or customer interaction) that you would liketo influence using the Decoy Effect or Anchoring.2. Explain what you expect to achieve and how you think the principles and or concepts willhelp you achieve your desired outcome3. Conduct the experiment (min 20 respondents per condition) and describe the outcome(you cannot survey Hult students!!!)4. Provide a financial analysis of your experiment5. Explain if your expectations were met or not. If not, provide an explanation why not.What could have influenced the outcomes. How could you conduct it next time?6. Finally, explain what you learned from it (reflection)Quality indicators (how will it be graded)• Judged based on the usage of the learnings from class / reader to a specific business situation• Indication which results you expect to achieve by applying the learnings and concepts fromclass• The students are encouraged to conduct a mini experiment (randomized control trial) to assessif their predictions are correct and to include the results into their assignment. Addingillustrations, pictures, recordings, etc (evidence of how you conducted your experiment) willpositively influence your grade.