Utility Refers to

question 203

Multiple Choice

Utility refers to

• A)the number of alternative uses or benefits that can be provided by a single product or service.
• B)the adaptability of a marketing program to adjust to changes in the marketing environment.
• C)the benefits or customer value received by users of the product.
• D)the fixed costs associated with the production of a single unit of a product within a product line.
• E)the variable costs associated with the production of a single unit of a product within a product line.

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Definitions:

Pie Chart

A round statistical diagram segmented into sections to represent numerical proportions.

Qualitative Variable

A variable that categorizes or describes attribute of a data set rather than expressing a numerical value.

Frequency Distribution

A frequency distribution shows how often each different value in a set of data occurs.

Qualitative Variable

A variable that categorizes or describes attribute or characteristic of a subject, not measured with numbers.