A Random Sample of 100,000 Credit Sales in a Department

question 39

Multiple Choice

A random sample of 100,000 credit sales in a department store showed an average sale of $87.25. From past data, it is known that the standard deviation of the population is $20.00. With a .95 probability, determine the margin of error.

• A) .000392
• B) 39.2
• C) .124
• D) .0276

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Definitions:

Dynamically Continuous Innovation

Dynamically continuous innovation involves significant changes to existing products or processes, making improvements while not requiring consumers to learn entirely new behaviors.

Discontinuous Innovation

A type of innovation that creates a significant change and often creates a completely new market or drastically alters an existing one.

Continuous Innovation

The ongoing introduction of improvements and enhancements to products, services, or processes that add value to the organization and its stakeholders.

New Consumption Patterns

Emerging trends in the way consumers purchase and use goods and services, often driven by changes in technology, culture, or economic factors.