Use the Table Below to Answer the Following Questions) -Based on the Data in the Table Above, Calculate the Historical

question 19

Multiple Choice

Use the table below to answer the following questions) .
The historical data of Velvetta Inc., a healthcare products manufacturer, have shown that in a production process for filling bottles of shampoo, variance in the volume is constant; however, clogs in the filling machine often affect the mean volume. The historical standard deviation is 5 milliliters. In filling 250-milliliter bottles, a sample of 20 found a mean volume of 242 milliliters. $$\begin{array}{l}\begin{array} { | l | l | } \hline\text { Velvetta Inc. Shampon }\\ \text { Productim } & \\\hline \text { Alpha Vulue } & 0.05 \\\hline \text { Standard Deviation } & 5 \\\hline \text { Sample Size } & 20 \\\hline \text { Sample Mean } & 242 \\\hline\end{array}\end{array}$$
-Based on the data in the table above, calculate the margin of error at 95% confidence interval.

• A) 1.84
• B) 2.19
• C) 2.51
• D) 1.96

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Definitions:

Derived Demand

A demand for a product or service that arises from the demand for another product or service.

Multivariable Account Segmentation

A marketing approach that divides a market into subgroups based on multiple factors such as customer needs, demographics, and behavioral traits, allowing for targeted marketing strategies.

Dual Segmentation Marketing

A marketing strategy that involves dividing the market into two parts based on differing criteria to better target specific groups of consumers.

Sales Volume

The total number of units of a product or service sold over a specific period of time. It is a measure of a company's sales performance and market demand.