The Hidden-Camera Videos That Were Placed Strategically on Web Sites

question 2

Multiple Choice

The hidden-camera videos that were placed strategically on Web sites like YouTube to promote Coke Zero were an example of marketing according to

• A) benefit segmentation.
• B) demographics.
• C) geodemographic segmentation.
• D) usage-rate segmentation.
• E) psychographic segmentation.

Understand the Central Limit Theorem and its implications for the distributions of sample means and differences between two sample means.

Calculate and interpret the test statistic for hypothesis tests involving a single population mean, a single population proportion, and the difference between two population means or proportions.

Determine sample sizes needed for estimating population parameters within a specified margin of error.

Formulate null and alternative hypotheses for testing differences between population means and proportions.

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Definitions:

Total Utility

Total utility is the total satisfaction or pleasure a person derives from consuming a particular quantity of goods and services.

Marginal Utility

The change in satisfaction or utility that an individual gains from consuming an additional unit of a good or service.

Marginal Utility

The extra pleasure or benefit gained by a consumer from consuming one more unit of a product or service.

Utility Maximizing Rule

A principle in economics stating that to maximize satisfaction or utility, consumers allocate their expenditures so that the last unit of currency spent on each product provides the same level of marginal utility.