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:

AVERAGE(range)

A function used in spreadsheet software to calculate the arithmetic mean of a range of cells.

Mean Value

The average of a set of numbers, found by dividing the sum of all values by the number of values.

Statistical Thinking

An approach to understanding, interpreting, and communicating data through the use of statistical methods and reasoning.

Interconnected Processes

Processes that are linked with one another such that the output of one process becomes the input for another, creating a complex system where the processes depend on each other.