Generally,the Average Length of Time It Takes for a Product

question 78

Multiple Choice

Generally,the average length of time it takes for a product category to move from the introduction stage of its product life cycle to the decline stage is:

• A)18 months.
• B)5-10 years.
• C)20 years.
• D)unpredictable.

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Definitions:

Sample Mean

The average value of a sample set of numbers, calculated by adding all the values together and dividing by the number of values.

Sampling Distribution

The probability distribution of a statistic based on a large number of samples or replicates.

Probability Distribution

Describes how the probabilities are distributed over the values of a random variable.

Expected Value

The expected value of a variable, determined by summing up all possible values, each weighed by its probability of happening.