TABLE 12-14 A Perfume Manufacturer Is Trying to Choose Between 2 Magazine

question 170

Short Answer

TABLE 12-14
A perfume manufacturer is trying to choose between 2 magazine advertising layouts.An expensive layout would include a small package of the perfume.A cheaper layout would include a "scratch-and-sniff" sample of the product.The manufacturer would use the more expensive layout only if there is evidence that it would lead to a higher approval rate.The manufacturer presents the more expensive layout to 4 groups and determines the approval rating for each group.He presents the "scratch-and-sniff" layout to 5 groups and again determines the approval rating of the perfume for each group.The data are given below.Use this to test the appropriate hypotheses with the Wilcoxon Rank Sum Test with a level of significance of 0.05.
-Referring to Table 12-14,the rank given to the last observation in the "scratch-and-sniff" group is ________.

Calculate total product, period, and overhead costs.

Understand and apply the concept of the relevant range of activity.

Calculate average and incremental costs.

Differentiate between fixed and variable costs.

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