Use the Following Two Probability Distributions for Sales of a Firm

question 34

Multiple Choice

Use the following two probability distributions for sales of a firm to answer Questions :
$$\begin{array} { c c c } \text { Sales } & \begin{array} { c } \text { Distribution1} \\\text { Probability }\end{array} & \begin{array} { c } \text { Distribution2} \\\text { Probability }\end{array} \\\hline 2,000 & 0.05 & 0.05 \\3,000 & 0.20 & 0.15 \\4,000 & 0.50 & 0.20 \\5,000 & 0.20 & 0.35 \\6,000 & 0.05 & 0.25\end{array}$$
-The coefficients of variation for Distributions 1 and 2 are, respectively, ___________ and ___________, so Distribution ______ has MORE risk relative to its mean.

• A) 0.22; 0.25; 2
• B) 0.22; 0.25; 1
• C) 0.31; 0.44; 1
• D) 0.31; 0.44; 2

Comprehend the different strategies retailers use to attract and retain customers.

Identify the types of retail formats and their relative advantages.

Recognize the importance of merchandise management and the role of merchandisers.

Understand the significance of service levels in retail and how they affect product positioning.

---

Definitions:

Cellular Receptor

A protein molecule on the surface or inside a cell that binds to specific substances, triggering a response in the cell.

Antidiuretic Hormone

A hormone also known as vasopressin that regulates water balance in the body by reducing the excretion of water in urine.

Erythropoietin

A hormone produced mainly by the kidneys that stimulates the production of red blood cells in response to low oxygen levels in the tissues.

Oxytocin

A hormone and neurotransmitter involved in childbirth and breast-feeding, also associated with empathy, trust, sexual activity, and relationship-building.