Apex Motors Manufactures Luxury Cars and Sport Utility Vehicles

question 116

Multiple Choice

Apex Motors manufactures luxury cars and sport utility vehicles. The most likely customers are high-income men and women, and company managers want to initiate an advertising campaign targeting these groups. They plan to run 1-minute spots on business/investment programs, where they can reach 7 million women and 4 million men from their target groups. They also plan 1-minute spots during sporting events, where they can reach 2 million women and 12 million men from their target groups. Apex feels that the ads must reach at least 40 million women and at least 24 million men who are prospective customers. Let x represent the number of minutes of business/investment program commercials and y represent the number of minutes of sporting events commercials. Write the inequalities that describe the constraints on the number of each type of 1-minute spots needed to reach these target groups. ​

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Definitions:

Bootstrapping

Bootstrapping is a resampling technique used in statistics to estimate the distribution of a statistic by repeatedly sampling with replacement from the data set and calculating the statistic for each sample.

Sample Size

The number of observations or data points used in a statistical sample.

Bootstrap Standard Error

A method for estimating the standard error of a statistic by resampling with replacement from the original data.

Bootstrap Distribution

A statistical technique that resamples a dataset to create a distribution for estimating the sampling distribution.