You Are Interested in Determining the Average Cost of a 3-Minute

question 118

Multiple Choice

You are interested in determining the average cost of a 3-minute telephone call to locations within the continental U.S.What sample size must you take to be 96% confident that the results will be within $.75 of the true mean cost per call? From the phone company,you have gotten an estimate of $\text { ? }$
= 7.71.

• A) 185
• B) 445
• C) 406
• D) 574
• E) 22

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Definitions:

Promotional Mix

The combination of marketing tools and strategies used to promote a product or service to the target market, including advertising, sales promotion, public relations, and personal selling.

Attendance

The act of being present at a location or event.

Situational Analysis

It refers to the process of identifying internal and external factors that affect an organization's performance, aimed at informing strategic planning.

Strategic Decisions

High-level choices made by an organization's leadership concerning the overall direction and objectives of the company.