Consider Figure 8-6B Above

question 162

Multiple Choice

Consider Figure 8-6B above.Suppose you are an owner of a local Wendy's restaurant near a large urban college or university.You hired a marketing research firm to conduct a survey among a sample of respondents in your area to find out their patronage of fast-food restaurants.Four weeks after the firm conducted the survey,it presented the following results to you.If you were to target a specific group or market segment based on the results presented,which one would you select to develop a specific marketing program to reach them?

• A)45 and older
• B)once a week or more
• C)25 to 44
• D)under 25
• E)once a month or less

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Definitions:

Survivor Bias

The analytical error of focusing on the surviving subjects of a study or process and overlooking those that did not survive due to lack of visibility.

Broad Sample

A wide-ranging or extensive group of people or items selected from a population, used for research or statistical analysis.

Survivor Bias

A logical error that involves focusing on the people or things that survived some process and inadvertently overlooking those that did not because of their lack of visibility.

Financially Successful

A state or condition of having significant income, profit, or assets, exceeding financial liabilities and obligations.