The Marketing Manager for a Car Manufacturer Is Interested in Determining

question 101

Multiple Choice

The marketing manager for a car manufacturer is interested in determining the proportion of new compact-car owners who would have purchased a passenger-side inflatable air bag if it had been available for an additional cost of $300.The manager believes from previous information that the proportion is 0.30.Suppose that a survey of 200 new compact-car owners is selected and 79 indicate that they would have purchased the inflatable air bags.
-If you were to conduct a test to determine whether there is evidence that the proportion is different from 0.30 and decided not to reject the null hypothesis,what conclusion could you draw?

• A) There is not sufficient evidence that the proportion is not 0.30.
• B) There is sufficient evidence that the proportion is 0.30.
• C) There is sufficient evidence that the proportion is 0.40.
• D) There is not sufficient evidence that the proportion is 0.30.

---

Definitions:

Inventory

The total value of all the raw materials, work-in-progress, and finished goods that a company holds at any given time.

LIFO Perpetual Inventory System

An inventory valuation method that assumes the last items added to inventory are the first sold, and records inventory changes perpetually.

Cost of Goods Sold

Financial obligations directly linked to the production of a company's saleable goods, covering material and labor costs.

Inventory Records

Documents that track the quantity, type, and value of a company's products in stock.