An average response rate for a marketing letter is 4%, meaning that 4% of the people who receive the letter respond to it. A com
pany writes a new type of marketing letter, sends out 2,400 of them, and gets 65 responses. Explain whether the new type of letter would be considered to be a success.
Answer : No, the new type of letter wouldn't be considered as a success because its response rate (2.71%) is lower than the average response rate which is 4%.