Explain How Panadol Introducing a New Product Called Panadol Hangover

question 13

Essay

Explain how Panadol introducing a new product called Panadol Hangover Relief is a brand extension.

---

Definitions:

Exponential Distribution

A probability distribution that describes the time between events in a Poisson process, where events occur continuously and independently at a constant average rate.

Mean

The average value of a set of numbers, calculated by adding all the numbers and dividing by the count of numbers.

Exponentially Distributed

A statistical distribution used to model the time between events in a Poisson process, describing the time until some specific event occurs.

Probability

The assessment of the probability of an event happening.