Which of the Following Is the Most Important Variable Considered

question 21

Multiple Choice

Which of the following is the most important variable considered for identifying opportunities in the global economy to sell low-priced products?

• A) middle-class income
• B) location of population
• C) demand in products
• D) cost of products

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Definitions:

Margin Error

The amount of error that one can expect in an estimate, often expressed as a plus-or-minus figure and used in statistical analysis to indicate confidence in results.

Confidence Level

The probability percentage that specifies how reliable a confidence interval is in statistical analysis.

Normal Distribution

A symmetric probability distribution characterized by a bell-shaped curve, where the mean, median, and mode of the distribution are equal.

Confidence Interval

An assortment of values, drawn out from sample statistical examination, which is likely to encase the value of an unascertained population parameter.