TABLE 9-8 One of the Biggest Issues Facing E-Retailers Is the Ability

question 44

True/False

TABLE 9-8
One of the biggest issues facing e-retailers is the ability to turn browsers into buyers. This is measured by the conversion rate, the percentage of browsers who buy something in their visit to a site. The conversion rate for a company's website was 10.1%. The website at the company was redesigned in an attempt to increase its conversion rates. A samples of 200 browsers at the redesigned site was selected. Suppose that 24 browsers made a purchase. The company officials would like to know if there is evidence of an increase in conversion rate at the 5% level of significance.
-Referring to Table 9-8, the company officials can conclude that there is sufficient evidence that the conversion rate at the company's website has increased using a level of significance of 0.05.

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Definitions:

Substantially Impaired

A term used to describe a significant reduction in the ability or function of something or someone.

Novation

The act of replacing an existing contract with a new one, where a different party assumes the rights and obligations of the original party.

Accord

An agreement in contract law where one party agrees to accept something different (often less) than what was initially agreed upon as satisfactory performance.

Satisfaction

The fulfilment of a requirement, obligation, or the to fulfillment of a condition stipulated in a contract.