Eugene Gates,Marketing Director of Mansfield Motors Manufacturers,Inc

question 15

Multiple Choice

Eugene Gates,Marketing Director of Mansfield Motors Manufacturers,Inc.'s Electrical Division,is leading a study to assess the relative importance of product features.An item on a survey questionnaire distributed to 100 of Mansfield's customers asked them to rate the importance of "ease of maintenance" on a scale of 1 to 10 (with 1 meaning "not important" and 10 meaning "highly important") .His staff assembled the following statistics. If Eugene concludes that the average rate of "ease of maintenance" for all customers is 7.5,he is using ________.

• A)a range estimate
• B)a statistical parameter
• C)a point estimate
• D)an interval estimate
• E)a guesstimate

---

Definitions:

Gentrification

Gentrification is the process of neighborhood transformation characterized by the renovation of housing, inflow of affluent residents, and displacement of lower-income families and businesses.

Comparison Shop

The practice of comparing prices, features, and quality of products or services from different vendors to make an informed purchasing decision.

Auto Dealerships

Businesses that specialize in selling new or used vehicles to consumers, often providing financing, maintenance, and repair services.

Economic Factors

Elements that influence the performance of economies, including inflation, employment rates, and GDP growth.