Widget Corp

question 41

Multiple Choice

Widget Corp., an electronics gadget manufacturing company, wants to manufacture a cell phone for the poor. Which of the following is a problem that will most likely pose a risk to Widget Corp. in targeting the poor as consumers?

• A) The poor don't have any unmet needs.
• B) The company cannot make profit under any circumstances.
• C) The market for selling to the poor is very small.
• D) The market for the poor is so big that the company will not be able to meet the demand.

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Definitions:

Type II Error

The error made when failing to reject a false null hypothesis, often referred to as a "false negative".

Null Hypothesis

A statement used in statistical testing which proposes that no significant difference or effect exists between certain characteristics of a population.

Type I Error

The error of rejecting a true null hypothesis, also known as a "false positive."

Null Hypothesis

An assertion or proposition in statistics that indicates no significant difference or effect, serving as the default assumption to test against.