The Management of Nerby Corporation Is Considering Introducing a New

question 50

Multiple Choice

The management of Nerby Corporation is considering introducing a new product--a compact lawn blower. At a selling price of $28 per unit, management projects sales of 40,000 units. The lawn blower would require an investment of $900,000. The desired return on investment is 20%.
-The target cost per lawn blower is closest to:

• A)$28.20
• B)$23.50
• C)$33.60
• D)$28.00

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Definitions:

Confidence Interval

A range of values derived from sample statistics that is likely to contain the value of an unknown population parameter.

Sampling Frame

The individuals or clusters of individuals in a population who might actually be selected for inclusion in the sample.

Quota Sampling

A sampling method where the selection of participants is based on pre-specified characteristics or quotas to ensure representation.

Nonprobability Sampling

A sampling technique where the samples are gathered in a process that does not give all the individuals in the population equal chances of being selected.