Catherine Chao, Director of Marketing Research, Needs a Sample of Ottawa

question 21

Multiple Choice

Catherine Chao, Director of Marketing Research, needs a sample of Ottawa households to participate in the testing of a new toothpaste package.If 40% of the households in Ottawa prefer the new package, the probability that Catherine's random sample of 300 households will have a sample proportion greater than 45% is ___.

• A)0.9232
• B)0.0768
• C)0.4616
• D)0.0384
• E)0.8974

Understand the use of tables, charts, and graphs for presenting data.

Learn techniques to enhance the visual appeal of images and text.

Recognize the functionality of keys and commands for efficiency in navigation and data entry.

Recognize and use different types of charts and their applications.

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Definitions:

Marginal Utility

The increase in satisfaction or value derived from the consumption of one more unit of a good or service.

Utility Schedule

A table showing the relationship between quantities of goods consumed and the utility or satisfaction derived from those quantities.

Marginal Utility

The surplus satisfaction or advantage gained upon consuming an incremental unit of a good or service.

Total Utility

The total satisfaction or benefit that a consumer receives from consuming a certain quantity of a good or service.