You Are Tasked with the Job of Finding Out If

question 44

Essay

You are tasked with the job of finding out if two proposed changes affect ice cream sales by conducting an experiment to test the effects of proposed changes on consumer preferences. One proposal is to add more chocolate chips to the chocolate chip flavor of the ice cream. The other proposal is to use real vanilla in all the ice cream flavors (currently, the company uses artificial vanilla flavoring). Both proposals cost the company money, so they want you to determine if either proposal increases consumer preference for the ice cream to decide if these additions are worthwhile. What is/are the independent variable(s) in this experiment?

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Definitions:

Product/Service Quality

The degree to which a product or service meets or exceeds customer expectations in terms of performance, reliability, and satisfaction.

Entrepreneurs

Individuals who initiate, manage, and assume the risks of a business venture in order to bring new products, services, or ideas to the market.

Ambiguity

The quality of being open to more than one interpretation; vagueness or uncertainty.

Small Business

An independently owned and operated company that is limited in size and in revenue depending on the industry.