Vermont-Based Green Mountain Coffee Roasters Dominates the Market for Single-Serve

question 14

Multiple Choice

Vermont-based Green Mountain Coffee Roasters dominates the market for single-serve coffee in the United States,with its subsidiary Keurig accounting for approximately 70% of sales ("Rivals Try to Loosen Keurig's Grip on Single-Serve Coffee Market," Chicago Tribune,February 26,2011) .But Keurig's patent on K-cups,the plastic pods used to brew the coffee,is expected to expire in 2012,allowing other companies to better compete.Suppose a potential competitor has been conducting blind taste tests on its blend and finds that 47% of consumers strongly prefer its French Roast to that of Green Mountain Coffee Roasters.After tweaking its recipe,the competitor conducts a test with 144 tasters,of which 72 prefer its blend.The competitor claims that its new blend is preferred by more than 47% of consumers to Green Mountain Coffee Roasters' French Roast.At the 1% significance level,does the evidence support the claim?

• A) No,because the value of the test statistic is less than the critical value.
• B) Yes,because the value of the test statistic is less than the critical value.
• C) No,because the value of the test statistic is greater than the critical value.
• D) Yes,because the value of the test statistic is greater than the critical value.

Identify the key demands and outcomes of significant global and national protests and movements.

Understand the central policies and international relations strategies of the Bill Clinton administration.

Comprehend the implications and outcomes of major global issues and conflicts such as the Rwandan genocide, Balkan wars, and Middle East crises.

Grasp the concept, drivers, and impact of globalization in the late 20th and early 21st centuries.

---

Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity level.

Net Operating Income

The profit derived from a company's everyday operations, calculated by subtracting operating expenses from gross profit.

Planning Budget

A budget prepared for a specific level of activity; it can be adjusted to reflect various levels of operation.

Labor Rate Variance

A financial measure that compares the actual cost of labor to the expected or standard cost, indicating how well a company manages its labor expenses.