The Marketing Department of a Nationally Known Cereal Maker Plans

question 74

Multiple Choice

The marketing department of a nationally known cereal maker plans to conduct a national survey to find out whether or not consumers of flake cereals can distinguish one of their favorite flake cereals. To test the questionnaire and procedure to be used,eight persons were asked to cooperate in an experiment. Five very small bowls of flake cereals were placed in front of a person. The bowls were labeled A,B,C,D,and E. The person was informed that only one bowl contained his or her favorite flake cereal. Suppose that the eight persons in the experiment were unable to identify their favorite cereal and just guessed which bowl it was in. What is the probability that none of the eight guessed correctly?

• A)0.168
• B)0.009
• C)0.788
• D)0.125

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Definitions:

Board of Directors

A group of individuals elected to represent shareholders and make major decisions regarding the corporation such as corporate policy, strategy, and overall direction.

Instrumental Values

Core values or beliefs that guide individuals in achieving their life goals and objectives.

Managers

Managers are individuals responsible for planning, leading, organizing, and controlling resources, including human, financial, and informational, to achieve organizational goals.

Instrumental Value

The utility or usefulness of something in achieving a goal or fulfilling a purpose.