Which of the Following Is an Example of a Product

question 75

Multiple Choice

Which of the following is an example of a product development strategy?

• A) A microprocessor manufacturing firm introduces a new microprocessor chip to replace the older, slower version and markets it in its established markets.
• B) McDuffy's fast food restaurant opens its first overseas restaurant, offering its original menu of pizzas and pastas.
• C) A carpet manufacturer operating in the U.S. introduces in India a new organic stain remover designed to remove even the worst spills.
• D) A beverage manufacturer decides to enter the retail industry by introducing a new range of ethnic wear by capitalizing on the corporate image it has acquired as a beverage manufacturer.

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Definitions:

Population

A complete set of elements (people, objects, transactions, etc.) that share at least one common characteristic.

AVERAGE(range)

A function used in spreadsheet software to calculate the arithmetic mean of a range of cells.

Mean Value

The average of a set of numbers, found by dividing the sum of all values by the number of values.

Statistical Thinking

An approach to understanding, interpreting, and communicating data through the use of statistical methods and reasoning.