Use the Following Table to Answer the Question

question 43

Short Answer

Use the following table to answer the question. A random sample of 200 new vehicle buyers were asked to respond to a survey about what kind of vehicle they purchased. One question, summarized in the table below, asked each respondent to choose the vehicle that best described the type of vehicle that they purchased. The vehicle choices were car, pick- up truck, sport utility vehicle, van, or other.

-If one person is chosen randomly from the group, what is the probability that the person purchased a van?

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Definitions:

Market Share

The segment of a market dominated by a specific company or product.

Goods

Tangible products that are produced, bought, or sold to satisfy the needs or desires of consumers.

Concept Testing

The process of evaluating consumer response to an idea before introducing a product or service to the market, to ascertain its potential success.

Visual Models

Diagrams or representations used to illustrate complex information or processes, facilitating easier understanding and analysis.