Seeking to Stop Declining Sales for an Established Mouthwash,a Sales

question 153

Multiple Choice

Seeking to stop declining sales for an established mouthwash,a sales manager suggests that new coloring be added to the product and a major promotion effort be started for the "new" product.The Federal Trade Commission would

• A)be concerned about the possibility of the firm getting a monopoly.
• B)allow the company to call the product "new" for only six months.
• C)probably not approve of this at all because the product doesn't meet the FTC's definition of "new."
• D)allow the promotion effort if it felt that consumers would think the coloring made it "new."
• E)None of these answers is correct.

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Definitions:

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to make inferences about the population from which the sample was drawn.

Sample Proportion

The quotient of the number of times an event occurs in a sample to the total number of observations in the sample.

Barack Obama

The 44th President of the United States, serving from 2009 to 2017, notable for being the first African American to hold the office.

Standard Deviation

A way of measuring how much variety or distribution exists among numerical values.