Consider the Following to Answer the Question(s) Below

question 31

Multiple Choice

Consider the following to answer the question(s) below:
A company manufacturing computer chips finds that 8% of all chips manufactured are defective. Management is concerned that high employee turnover is partially responsible for the high defect rate. In an effort to decrease the percentage of defective chips, management decides to provide additional training to those employees hired within the last year. After training was implemented, a sample of 450 chips revealed only 27 defects. Was the additional training effective in lowering the defect rate?
-At α = 0.01

• A) we can conclude that the additional training significantly lowered the defect rate.
• B) we can conclude that the additional training did not significantly lower the defect rate.
• C) we can conclude that the additional training significantly increased the defect rate.
• D) we can conclude that the additional training significantly affected the defect rate.
• E) we can conclude that the additional training probably increased the defect rate..

Identify the strengths and weaknesses of advertising as a promotional tool.

Recognize the concept and impact of wasted coverage in advertising.

Comprehend the nature and importance of personal selling in the promotional mix.

Grasp the advantages of personal selling over other promotional methods.

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Definitions:

Product

A good or service offered by a business or seller to meet consumer needs or demands.

Patronage Model

A funding approach where supporters or patrons financially back an individual, organization, or project, often in the arts or creative fields, without expecting a financial return.

Crowdfunding

A fundraising strategy where a project or business is supported by collecting small contributions from many individuals, often through an online platform.

Crowdfunding Campaign

A fundraising initiative where individuals or organizations raise money for projects, causes, or businesses from a large number of people, typically via the internet.