You Are Introducing a New Product, and Want to Make

question 151

Multiple Choice

You are introducing a new product, and want to make sure that potential customers can examine the merits of a new product. You offer free samples to customers and give away in-store free samples. This product characteristic is referred to as

• A)trialability.
• B)complexity.
• C)compatibility.
• D)observability.
• E)competitive advantage.

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Definitions:

T-statistic

A ratio that is derived from the standardized difference between two sample means divided by the standard error of the difference, used in hypothesis testing.

Sample Mean

The average value computed from a sample set of data, representative of the population mean.

Hypothesized Population Mean

This is an assumed average of a particular characteristic in a population, used as a standard for hypothesis testing in statistical analysis.

Region of Rejection

The area in the tail(s) of a statistical distribution where, if a test statistic falls, the null hypothesis is rejected in favor of the alternative hypothesis.