A Market Research Firm Is Investigating the Appeal of Three

question 78

Multiple Choice

A market research firm is investigating the appeal of three package designs. The table below gives information obtained through a sample of 200 consumers. The three package designs are labelled A, B, and C. The consumers are classified according to age and package design preference. If one of these consumers is randomly selected, what is the probability that the person prefers design A and is under 25?

• A) 0.22
• B) 0.11
• C) 0.18
• D) 0.54
• E) 0.78

---

Definitions:

Contingent Consideration

An additional payment that the buyer agrees to make to the seller in a business acquisition, which is dependent on specific future events or performances.

Fair Value

An estimate of the price at which an asset or liability could be exchanged between knowledgeable, willing parties in an arm's length transaction.

Liability

A financial obligation or debt owed by a company to another entity.

Consolidate Financial Statements

Combined financial statements of a parent company and its subsidiaries, presenting the group as a single economic entity.