The Probability That a New Advertising Campaign Will Increase Sales

question 46

Multiple Choice

The probability that a new advertising campaign will increase sales is assessed as being 0.80.The
Probability that the cost of developing the new ad campaign can be kept within the original
Budget allocation is 0.40.Assuming that the two events are independent, the probability that the
Cost is kept within budget and the campaign will increase sales is:

• A) 0.20
• B) 0.32
• C) 0.40
• D) 0.88

---

Definitions:

SSE

Sum of Squares due to Error, a measure in statistical analysis that quantifies the variance in observed data points from the fitted values predicted by a model.

Simple Linear Regression

An approach in statistics where a linear equation is fitted to data in order to understand the connection between one independent variable and a dependent variable.

Chemical Plant

A manufacturing facility where chemical processes are conducted, often involving the conversion of raw materials into finished chemical products.

ANOVA Table

A table that summarizes the sources of variance in an ANOVA test, showing the degrees of freedom, sum of squares, mean squares, F-statistic, and significance level.