A Company Is Willing to Renew Its Publishing Contract with a Popular

question 38

Multiple Choice

A company is willing to renew its publishing contract with a popular calculus book author only if he can prove that his book can sell to more than 15% of the entire calculus market.The publishing company contacts 3000 calculus professors at random and only 420 professors were interested in the book.Should the company renew the contract? State the critical value required to perform an appropriate hypothesis test using α = 0.05.

• A)-1.645
• B)-2.326
• C)1.645
• D)1.96
• E)-1.96

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Definitions:

Marketing Department

A functional division within a company focused on strategies and efforts to promote, sell, and distribute a product or service.

Organizational Structure

The way in which a company or organization is arranged, including the divisions, roles, and responsibilities to ensure its operations.

Marketing ROI

Return on Investment in marketing; a measure of the profitability and effectiveness of marketing efforts, comparing the gain from these activities to their cost.

Return on Investment

A financial metric used to evaluate the efficiency of an investment, calculated by dividing the profit from an investment by its cost.