Diffusion of Innovation Theory Allows

question 2

Multiple Choice

Diffusion of innovation theory allows:

• A)marketers to estimate how rapidly an innovation is likely to be adopted by the target market
• B)consumers to gauge the feasibility of product acceptance within their reference groups
• C)management to estimate how quickly innovation can seep into an organisational culture
• D)marketers to manipulate customer attitudes from the time they first hear about the new product until they adopt it

Recognize and define Type I and Type II errors in statistical hypothesis testing.

Understand the significance level (alpha) and its role in hypothesis testing.

Distinguish between accepting and rejecting the null hypothesis based on hypothesis test outcomes.

Identify the p-value and its importance in the interpretation of statistical results.