A Company Has Developed a New Engine Whose Average Lifetime

question 28

Multiple Choice

A company has developed a new engine whose average lifetime is unknown.In order to estimate this average,100 engines are randomly selected from a large production line and tested; their average lifetime is found to be 11 years.The 11 years represents a:

• A)parameter.
• B)statistic.
• C)sample.
• D)population.

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Definitions:

Marketing Programs

Structured plans or campaigns that are designed to fulfill the objectives of a marketing strategy, comprising various promotional and operational activities.

Tactical Planning

Short-term, specific planning that supports strategic planning, focusing on the actions and resources needed to achieve specific objectives.

Value Propositions

Statements that explain how a product or service solves a need, highlights its benefits, and why it's better than the competition.

E-commerce

The buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.