TABLE 1-1 The Manager of the Customer Service Division of a Major

question 127

Multiple Choice

TABLE 1-1
The manager of the customer service division of a major consumer electronics company is interested in determining whether the customers who have purchased a videocassette recorder made by the company over the past 12 months are satisfied with their products.
-Referring to Table 1-1, the possible responses to the question "How much time do you use the videocassette recorder every week on the average?" are values from a

• A) continuous numerical random variable.
• B) discrete numerical random variable.
• C) categorical random variable.
• D) parameter.

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Definitions:

Loan

A sum of money borrowed that is expected to be paid back with interest.

Discount Rate

It’s the rate used in discounted cash flow analysis for calculating the present worth of cash flows expected in the future.

Package Deal

A bundled offer where multiple products or services are sold together, often at a discounted price compared to purchasing each item separately.

Cost

An amount that must be paid or spent to buy or obtain something, reflecting the expense associated with acquiring or maintaining an asset.