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Scenario 12.2 Use the Following to Answer the Questions

question 81

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Scenario 12.2
Use the following to answer the questions.
Jonathan Moore,president of Polar Manufacturing Company,has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve.He specifically feels they could do a better job in managing Polar's product mix.Jonathan calls a meeting of all the managers responsible for each of the product lines that Polar currently manufactures.The group decides that they need to eliminate the complete industrial product line of ice chests,and plan to do so by letting the product decline without any changes in the marketing strategy or product.The group also decides to delete Polar's line of personal thermal underwear,however this product is to be discontinued within the week due to its unprofitability.While discussing these strategies,the group has also uncovered several customer groups for which new products could be developed.The managers decide to assemble a group of people from all functional areas of the company and give them the responsibility for all aspects of the new-product development.
-Refer to Scenario 12.2.The group of people that management has assembled to take on the task of new-product development is best described as

Definitions:

Weight Loss

The act of reducing one's body mass, generally through modifications in diet, exercise, or lifestyle.

Significance Level

The probability threshold below which the null hypothesis is rejected in a statistical test, commonly denoted by alpha (α).

Sample Data

A subset of a population used to estimate or make inferences about the entire population.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, commonly set thresholds include 0.05, 0.01.