Joy Ward Is the Director of Marketing at Helmsley College

question 56

Multiple Choice

Joy Ward is the director of marketing at Helmsley College. She has been studying marketing research data collected on a national sample of high school seniors who are planning on attending college. Joy is trying to determine what appeal she should use in a direct mail campaign that will be targeted at students with high SAT/ACT scores who live within 500 miles of Helmsley. She is intrigued with the marketing research data that measures the students' ratings of importance on a number of factors affecting their decision to choose a particular college. Some of the factors are (1) programs highly valued in the job market, (2) small campus atmosphere where professors know students' names, (3) ample opportunities for an active campus life (i.e., football, campus entertainment for students, etc.) , (4) individualized programs designed around students' needs and interests, and so on. There are eight different factors and each was rated on the same 5-point importance scale ranging from "Very Important" to "Very Unimportant." Joy knows that Helmsley could ethically use either the "small campus" appeal or the "individualized program" appeal. The small campus appeal has a mean score of 4.3 on the importance scale, while the individualized program appeal has a mean score of 3.95. Because both of these numbers indicate that these are important factors for students, she wants to know if the small campus appeal is really more important than the individualized appeal in the total college bound population. Which of the following tests should Joy run?

• A) a z test of the difference between two percentages
• B) independent samples t test
• C) paired samples t test
• D) ANOVA
• E) Duncan's Multiple Range Test

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Definitions:

LIFO

"Last In, First Out," an inventory valuation method where the latest items added to the inventory are the first to be sold.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated using beginning inventory, purchases, and cost of goods sold.

Units

A measure of quantity, such as items, goods, or services, which can be counted or measured.

FIFO

First-In, First-Out (FIFO) is an inventory valuation method where goods first added to inventory are the first ones considered sold.