SCENARIO 12-21 A Perfume Manufacturer Is Trying to Choose Between 2 Magazine

question 50

Short Answer

SCENARIO 12-21
A perfume manufacturer is trying to choose between 2 magazine advertising layouts.An expensive layout would include a small package of the perfume.A cheaper layout would include a "scratch- and-sniff" sample of the product.The manufacturer would use the more expensive layout only if there is evidence that it would lead to a higher approval rate.The manufacturer presents both layouts to 5 groups and determines the approval rating from each group on both layouts.The data are given below.Use this to test whether the median difference in approval rating is different from zero in favor of the more expensive layout with a level of significance of 0.05.

-Referring to Scenario 12-21,what is the value of the test statistic?

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Definitions:

Refrigeration Equipment

Refrigeration Equipment comprises devices and machinery used to keep food, drinks, and other perishables at a low temperature to preserve their quality over time.

Third-party Answer Technique

A sales strategy where the salesperson introduces the opinions or experiences of a third party to validate the product or service and reduce buyer skepticism.

Objections

Concerns or reasons given by a potential buyer against making a purchase, which salespeople aim to overcome.