TCBY Wants to Expand Its Line of Food Products

question 63

Multiple Choice

TCBY wants to expand its line of food products. The company sent surveys to consumers to determine which food items would appeal to them for dessert or snacks. The company is in which phase of new product development?

• A) Idea generation
• B) Product development
• C) Test marketing
• D) Screening
• E) Business analysis

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Definitions:

Sample

A subset of individuals from within a larger population used to approximate characteristics of the whole population.

Poisson Probabilities

The likelihood of a given number of events happening in a fixed interval of time or space, assuming the events occur with a known constant mean rate and independently of the time since the last event.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space when these events occur with a known constant rate and independently of the time since the last event.

Expected Frequency

The predicted number of times an event or outcome occurs within a specific interval, based on a probability model.