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1. In the book Essentials of Marketing Research, William R.
Customer Question
1. In the book Essentials of Marketing Research, William R. Dillon, Thomas J. Madden, and Neil H. Firtle present the results of a concept study for a new wine cooler. Three hundred consumers between 21 and 49 years old were randomly selected. After sampling the new beverage, each was asked to rate the appeal of the phrase
Not sweet like wine coolers, not filling like beer, and more refreshing than wine or mixed drinks
as it relates to the new wine cooler. The rating was made on a scale from 1 to 5, with 5 representing “extremely appealing” and with 1 representing “not at all appealing.” The results obtained are given in Table 4.2. Estimate the probability that a randomly selected 21 to 49yearold consumer
a. Would give the phrase a rating of 5.
b .Would give the phrase a rating of 3 or higher.
c. Is in the 21–24 age group; the 25–34 age group; the 35–49 age group.
d. Is a male who gives the phrase a rating of 4.
e. Is a 35 to 49yearold who gives the phrase a rating of 1.
2.A company administers an “aptitude test for managers” to aid in selecting new management trainees. Prior experience suggests that 60 percent of all applicants for management trainee positions would be successful if they were hired. Furthermore, past experience with the aptitude test indicates that 85 percent of applicants who turn out to be successful managers pass the test and 90 percent of applicants who do not turn out to be successful managers fail the test.
a If an applicant passes the “aptitude test for managers,” what is the probability that the applicant will succeed in a management position?
b Based on your answer to part a, do you think that the “aptitude test for managers” is a valuable way to screen applicants for management trainee positions? Explain.
Submitted:
1 year ago.
Category:
Calculus and Above
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Expert:
Ashok Kumar
replied 1 year ago.
Kindly forward the table 4.2 as mentioned?
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Customer:
replied 1 year ago.
I have attached the table.
Expert:
Ashok Kumar
replied 1 year ago.
I could download it. Kindly inform when it is due.
Ask Your Own Calculus and Above Question
Customer:
replied 1 year ago.
if the answers are ready you can send it to me.
Expert:
Ashok Kumar
replied 1 year ago.
Answers are not ready. I will have to work out. I am thinking of replying in 6 hrs.
Ask Your Own Calculus and Above Question
Customer:
replied 1 year ago.
OKAY. Sounds good.
Expert:
Ashok Kumar
replied 1 year ago.
will be submitting answers shortly.
Ask Your Own Calculus and Above Question
Expert:
Ashok Kumar
replied 1 year ago.
The following link contains the answers. Kindly rate the answers. BONUS will be appreciated.
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