Pat Murphy Is Working on a Special Project for the Marketing

question 28

Multiple Choice

Pat Murphy is working on a special project for the marketing manager of the Television Land Company. The marketing manager asked Pat to determine the unit potential demand for color television sets in Indianapolis. All the data Pat was given is provided below. What is the correct unit potential demand that pat should have calculated? (Within errors of rounding) Given:
Per capital expenditures on TV sets per year = 180
Average price = $500
Population of Indianapolis = 1,000,000
Proportion spent on TV sets = .40
Proportion spent on black and white sets = .35
Proportion spent on color TV sets = .65

• A) 504
• B) 693
• C) 936
• D) 1287
• E) It cannot be calculated from the information given.

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Definitions:

Abstract Thinking

The ability to think about objects, principles, and ideas that are not physically present.

Symbolic Thinking

The ability to use symbols, images, or objects to represent something that is not physically present, commonly seen in language, mathematics, and art.

Logical Thinking

The process of reasoning consistently and systematically to come to a conclusion.

Authoritarian

Describes a governing style characterized by strong central power and limited political freedoms.