Catherine Chao,Director of Marketing Research,needs a Sample of Ottawa Households

question 41

Multiple Choice

Catherine Chao,Director of Marketing Research,needs a sample of Ottawa households to participate in the testing of a new toothpaste package.If 40% of the households in Ottawa prefer the new package,the probability that Catherine's random sample of 300 households will have a sample proportion greater than 0.45 is ___.

• A)0.9232
• B)0.0768
• C)0.4616
• D)0.0384
• E)0.8974

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Definitions:

Cognitive Dissonance

The psychological discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Market Concentration

The extent to which a small number of firms dominate a particular market, often measured by the concentration ratio or Herfindahl-Hirschman Index.

Homogenous Marketing

A marketing strategy where a company treats the market as a uniform entity by offering the same marketing mix to all consumers.