Companies Must Balance the Number of Items in a Product

question 5

Multiple Choice

Companies must balance the number of items in a product line.Too many items and customers find it difficult to see the differences between the products.Too few products and the company runs the risk of _______.

• A)Having inefficiencies in production
• B)Having trouble with discounters because they may have the same product as a full-price store
• C)Having a problem with communication to the market about the products
• D)Missing important market opportunities that are not being attacked by the current product offerings
• E)None of these

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Definitions:

Unimodal

Describing a distribution with a single peak or mode, representing the most frequently occurring value.

Empirical Rules

A set of guidelines that indicate how the data are spread in a normal distribution, specifically stating that approximately 68%, 95%, and 99.7% of the data fall within one, two, and three standard deviations from the mean, respectively.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean.

Observations

Data collected or noticed during an experiment or study, often referring to the individual data points or recorded occurrences.