Exhibit 2-3 A Survey of 800 College Seniors Resulted in the Following

question 62

Multiple Choice

Exhibit 2-3
A survey of 800 college seniors resulted in the following crosstabulation regarding their undergraduate major and whether or not they plan to go to graduate school.
-Refer to Exhibit 2-3. Of those students who are majoring in business, what percentage plans to go to graduate school?

• A)27.78
• B)8.75
• C)70
• D)72.22

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Definitions:

Invention

The creation of a new product, system, or process that has never before been made and is recognized as the product of some unique insight.

Basic Research

Research aimed at gaining more comprehensive knowledge or understanding of the subject without targeted applications towards processes or products.

Process Innovation

The implementation of a new or significantly improved production or delivery method in a business or industry.

Product Innovation

The process of developing and introducing new or significantly improved products to the market, enhancing variety, performance, or quality.