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

question 49

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 would you rate the quality of your purchase experience with 1 = excellent, 2 = good, 3 = decent, 4 = poor, 5 = terrible?" are values from a

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

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Definitions:

Standard Error

a statistical measure that gauges the accuracy of sample means by estimating the dispersion of sample means from the population mean.

Forecasting Model

A mathematical or theoretical representation used to predict future values or trends based on historical data.

Naïve Forecast

A forecasting method that assumes future values will be the same as the most recent actual value observed.

September Sales

The volume of goods or services sold by a business during the month of September.