A Detailed Version of a New Product Idea, Stated in Meaningful

question 48

Multiple Choice

A detailed version of a new product idea, stated in meaningful customer terms is known as a(n) :

• A) working model.
• B) sample product.
• C) concept.
• D) idea.
• E) prototype.

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Definitions:

Binomial

A type of probability distribution with two possible outcomes, used to model situations with fixed numbers of trials and the same probability of success.

Population Proportions

The ratio of members in a statistical population who have a particular attribute, compared to the total number of members in the population.

Pooled Proportion Estimate

An estimation technique that combines the proportions of two or more groups into a single overall proportion.

Sample 1

A subset of individuals or items selected from a larger population for the purpose of statistical analysis.