Suppose You Want to Test the Claim That $\mu = 3.5 .$

question 9

Multiple Choice

Suppose you want to test the claim that $\mu = 3.5 .$ Given a sample size of n=48 and a level of significance of $\alpha$ =0.01 , when should you reject H₀ ?

• A) Reject H₀ if the standardized test statistic is greater than 2.575 or less than -2.575 .
• B) Reject H₀ if the standardized test statistic is greater than 2.33 or less than -2.33 .
• C) Reject H₀ if the standardized test statistic is greater than 1.96 or less than -1.96
• D) Reject H₀ if the standardized test statistic is greater than 1.645 or less than -1.645

Differentiate between various sensory thresholds (absolute threshold, differential threshold) and understand their significance in perception.

Comprehend the process and factors affecting consumer attention, including adaptation and attention focusing.

Recognize the role of sensory marketing in affecting consumer behavior and decision-making.

Appreciate the psychological aspects of perception in consumer responses to marketing stimuli.

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Definitions:

Tariff

A tax on imports.

Subsidy

Financial support provided by the government to businesses, individuals, or other entities, aimed at promoting economic activities or ensuring the affordability of basic goods.

Tariffs

Taxes imposed by a government on imported goods in order to protect domestic industries or to generate revenue.

Quotas

A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specified period.