Instruction 7.4 According to a Survey, Only 15% of Customers Who Visited

question 115

Short Answer

Instruction 7.4
According to a survey, only 15% of customers who visited the web site of a major retail store made a purchase. Random samples of size 50 are selected.
-Referring to Instruction 7.4,what proportion of the samples will have less than 15% of customers who will make a purchase after visiting the web site?

Understand the concepts of normative, output, personal, and bureaucratic control within organizations.

Identify how organizational structures adapt to serve multinational, meganational, or multidomestic strategies.

Understand the impact of informal versus formal organizational structures on a company's adaptability and responsiveness.

Recognize how organizational values and control mechanisms influence company operations and employee behaviors.

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Definitions:

Resource Value

Refers to the economic value assigned to natural or human resources based on their utility in producing goods and services.

Business Start-Ups

New ventures initiated by entrepreneurs aiming to meet a marketplace need or to offer an innovative product or service.

Business Failures

Occurrences when companies cease operations due to financial problems, lack of demand, mismanagement, or other factors, sometimes resulting in bankruptcy.

New Ideas

Innovations or concepts that have not been previously introduced or considered, often leading to technological advancements or new business models.