A Cardiologist Creates a Device That Attaches to a Smart

question 3

Multiple Choice

A cardiologist creates a device that attaches to a smart phone to provide real-time information to a patient's doctor.The product outsells all other monitoring devices.Which factor most contributes to the competitive advantage of this product?

• A) price/value
• B) unique service features
• C) customer service
• D) accessibility

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Definitions:

Hypotheses

Statements or predictions that can be tested through scientific research, designed to explain phenomena or the relationship between variables.

Population Proportion

The fraction of members in a group that possess a particular characteristic, often expressed as a percentage of the total population.

Confidence Interval

An assortment of values, from sampled evidence, which possibly contains the value of an unknown parameter of the population.

Estimator

An estimator refers to a statistic used to estimate the value of a population parameter based on sample data.