A Random Sample of 100 People Was Selected from a Population

question 112

True/False

A random sample of 100 people was selected from a population of customers at a local bank. The mean age of these customers was 40. If the population standard deviation is thought to be 5 years, the margin of error for a 95 percent confidence interval estimate is .98 year.

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Definitions:

Global Channel

Distribution networks that connect producers and consumers across international borders, facilitating the global trade of goods and services.

Distribution

The process of making a product or service available for the consumer or business user that needs it, through direct or indirect means.

Product Strategies

The planning and execution of decisions related to a company's product mix, development, branding, and positioning to meet customer needs and achieve competitive advantage.

Promotion Strategies

Tactics employed by businesses to inform, persuade, and remind customers about products or services to influence their purchasing decisions.