A Production Manager Is Interested in Comparing the Precision of Two

question 81

Essay

A production manager is interested in comparing the precision of two brands of stamping machines.From a random sample of 12 units of output from the Brand A machine,a standard deviation of 15.2 is reported for a quality characteristic.For the Brand B machine,in a sample of 20 units of output,there is a standard deviation of 10.1.Is there sufficient evidence at the 5% significance level to conclude that Brand B machines have a lower variance in quality? Assume that the quality characteristic of both machines follows a normal distribution.

Describe the steps involved in segmenting and targeting markets and their importance in developing a marketing strategy.

Evaluate the cost-effectiveness and potential profitability of segmenting specific market segments.

Appreciate the concept of one product and multiple market segments and strategies to target them effectively.

Assess the impact of market segmentation on product positioning and marketing actions.

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Definitions:

Sleeper Effect

A delayed increase in the impact of a message that occurs when an initially discounted message becomes effective, as we forget its source or its source becomes less important over time.

Internal Attribution

The inference that a person's behavior is due to personal factors like character, motive, or belief.

Consistency Information

Information that supports the reliability or stability of a person's behavior or attitudes over time.

Fundamental Attribution Error

The tendency to overestimate the effect of personality or disposition and underestimate the effect of the situation in explaining social behavior.