Eddie Livingston Is President of BankTrust, a Banking Firm with Several

question 94

Multiple Choice

Eddie Livingston is president of BankTrust, a banking firm with several bank locations. Eddie has been exploring the impact of service satisfaction with bank performance and is convinced that he can improve the bank's RONW if he can improve customer satisfaction. He has been contemplating a proposal from Tanner Research to begin a program of improving customer satisfaction. Tanner has recommended a survey of bank customers to establish gaps in service as perceived by the customers. Eddie knows that the bank has a list of all the customers and that this information is on an electronic database complete with mailing addresses and, for those having Internet service, email addresses. At the next meeting, Eddie expresses concern that sending a questionnaire to all bank customers is an inconvenience to them and he doesn't want to create more hassles. The researchers from Tanner Research assure Eddie that they can get the needed information for as few as a couple of hundred customers and that the results will be representative of all bank customers. Which of the following sample methods would most likely be appropriate?

• A) simple random sample
• B) judgement sample
• C) stratified sample
• D) cluster, area sample
• E) systematic sample

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Definitions:

Unit Variable Cost

The financial outlay linked to the creation of one more unit of a product.

Break Even

The point at which total costs and total revenue are equal, meaning that a business or investment is neither making a profit nor a loss.

Fixed Costs

Fixed costs are business expenses that do not change regardless of the level of goods or services produced, such as rent, salaries, and insurance premiums.

Total Revenue

The total amount of money generated by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.