SCENARIO 8-11 a Poll Was Conducted by the Marketing Department of a of a Video

question 91

Short Answer

SCENARIO 8-11
A poll was conducted by the marketing department of a video game company to determine the popularity of a new game that was targeted to be launched in three months.Telephone interviews with 1,500 young adults were conducted which revealed that 49% said they would purchase the new game.The margin of error was ±3 percentage points.
-Referring to Scenario 8-11,what is the needed sample size to obtain a 90% confidence interval estimate of the percentage of the targeted young adults who will purchase the new game by allowing the same level of margin of error?

Evaluate the effects of price discrimination based on elasticity of demand.

Distinguish between necessities and luxuries in the context of price elasticity.

Comprehend the role of substitutes and budget portion on elasticity.

Understand the impact of cultural dimensions on workplace behavior and attitudes.

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Definitions:

Revenue

The total income generated from normal business operations and other activities.

Direct Expense

Direct Expense is a cost that can be directly tied to the production or sale of specific goods or services.

Traceable

Refers to costs or expenses directly linked to a specific department, product, or activity, allowing for accurate financial analysis.

Department

A specialized functional area within an organization that focuses on specific operations or responsibilities.