The population size for your target market is 10,000 individuals from which you drew a sample of 100 individuals to dete
Posted: Thu May 05, 2022 6:50 am
The population size for your target market is 10,000 individuals
from which you drew a sample of 100 individuals to determine their
intention to purchase your product. The company is only in a
position to produce 1000 products due to cost constraints.
The following are the results calculated from two (2) questions on
the survey:
Intention to Purchase
If the products were available on the market would you buy
them?
# of respondents
No 60
Yes 40
If you answered yes above, how much would you pay for this
product?
$400 2
$350 5
$300 15
$250 18
Select the decision you would make regarding producing this
product?
Select one:
a.The product is feasible to produce since 40% answered Yes.
b.The product is not feasible to produce since 60% answered
No.
c.The product feasibility cannot be determined from this
information.
d.The product is feasible because of the size of the population
targeted.
from which you drew a sample of 100 individuals to determine their
intention to purchase your product. The company is only in a
position to produce 1000 products due to cost constraints.
The following are the results calculated from two (2) questions on
the survey:
Intention to Purchase
If the products were available on the market would you buy
them?
# of respondents
No 60
Yes 40
If you answered yes above, how much would you pay for this
product?
$400 2
$350 5
$300 15
$250 18
Select the decision you would make regarding producing this
product?
Select one:
a.The product is feasible to produce since 40% answered Yes.
b.The product is not feasible to produce since 60% answered
No.
c.The product feasibility cannot be determined from this
information.
d.The product is feasible because of the size of the population
targeted.