Catherine Chao, Director of Marketing Research, Is Evaluating Consumer Acceptance

question 51

Multiple Choice

Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package.Her staff reports that 17% of a random sample of 200 households prefers the new package to all other package designs.If Catherine concludes that 17% of all households prefer the new package, she is using a ___.

• A)a point estimate
• B)a range estimate
• C)a statistical parameter
• D)an interval estimate
• E)an exact estimate

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Definitions:

Cash Flow

The money that goes in and out of a budget within a fixed period of time.

Budget Plan

A detailed outline of expected income and expenses over a given period, helping individuals or organizations manage their finances.

kWh

Stands for kilowatt-hour and is a unit of energy representing one kilowatt of power expended for one hour, commonly used to measure electricity consumption.

Electricity Charge

The cost incurred from consuming electric power, reflected as part of a utility bill.