Catherine Chao, Director of Marketing Research, Is Evaluating Consumer Acceptance

question 13

Multiple Choice

Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package.She randomly selects a sample of 200 households.Forty households prefer the new package to all other package designs.The 90% confidence interval for the population proportion is _________.

• A)0.199 to 0.201
• B)0.153 to 0.247
• C)0.164 to 0.236
• D)0.145 to 0.255
• E)0.185 to 0.275

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Definitions:

Fixed

Pertains to expenses that remain constant for a given period regardless of the level of production or business activity.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor.

Estimated

An approximation or informed guess of a value, quantity, or outcome based on available data.

Budgeted Accounts Receivable

Predicts the amount of money owed to a business by its customers for sales made on credit during a specific period.