When Surveyed for Brand Recognition, 98% of Consumers Recognize Coke

question 30

Multiple Choice

When surveyed for brand recognition, 98% of consumers recognize Coke. A new survey of 800 randomly selected consumers is to be conducted. For such a group of 800, calculate the mean and standard deviation for the number who recognize the Coke brand name. Considering as unusual a result that differs from the mean by more than two standard deviations, it (___ (is/is not) ___) unusual to get 775 consumers who recognize the Coke brand name.

• A) 96, 9, is
• B) 784, 3.96, is
• C) 784, 9, is not
• D) 96, 39.6, is not
• E) 396, 78.4, is not

---

Definitions:

Income

Funds acquired frequently, either from performing work or via investment profits.

Production

The method of producing goods and services by mixing labor, materials, and technology.

Savings

Money set aside from current income for future use, often to accumulate wealth or for specific future expenditures.

Monetarism

A school of thought that emphasizes the role of governments in controlling the amount of money in circulation to influence the economy.