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Yanka [14]
3 years ago
13

You work in the marketing research department of Burger King. Burger King has developed a new cooking process that makes the ham

burgers taste better. However, before the new hamburger is introduced in the market, taste tests will be conducted. How should the sample size for these taste tests be determined? What approach would you recommend? Justify your recommendations to a group of students representing Burger King management
Business
1 answer:
Bogdan [553]3 years ago
8 0

Answer with its Explanation:

The first step is to diversify the sample size so that our sample includes every person from different cultures, geographic, religions, genders, etc., which would help in better assessment of the product's future in the market.

Second step is to set a sample size for receiving the feedback of the customers at required confidence interval that is Burger King's goal to achieve. For example, Burger King desires to achieve 93% customer satisfaction and the error rate would determined by using the confidence interval. This sample size would be calculated using the practical approach.

Third step is to ensuring that the errors in prediction are reasonably low by practical approach, confidence interval approach and diversified test samples. All this will help the company to ensure that they have accurate results in hand for decision making.

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A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2,481. After insta
Pavel [41]

Answer:

the question is missing the discount or interest rate that we must use to calculate the answer.

for example, if the interest rate is 5% per year, then this would be a good investment if the homeowner can save $2,481 x 5% = $124.05 per year.

but if the interest rate is 8%, then the homeowner would need to save at least $2,481 x 8% = $198.48 per year.

5 0
3 years ago
You have $100,000 available to invest. The risk-free rate, as well as your borrowing rate, is 4%. The risky portfolio has an exp
dlinn [17]

Answer:

c. borrow $50,000 at the risk-free rate

Explanation:

Options are: "invest $100,000 in the risk-free asset, borrow $25,000 at the risk-free rate, borrow $50,000 at the risk-free rate, invest $125,000 in the risk-free asset"

Standard Deviation of the portfolio = Weight of Risky assets * Standard Deviation of risky assets

30% = Weight of Risky assets * 20%

Weight of Risky assets = 30% / 20%

Weight of Risky assets = 1.50

Weight of Risk Free Assets = 1 - 1.50

Weight of Risk Free Assets = -0.50

Borrow from risk assets = 0.50 * $100,000

Borrow from risk assets = $50,000

Hence, If we want the standard deviation of our investment to be 30%, we must borrow $50,000

5 0
2 years ago
A study comparing perceptions of punctuality in the United States and Brazil found that Brazilian timepieces are less reliable a
son4ous [18]

Answer: Polychronic Time

Explanation: A culture that makes use of Polychronic time engages in so many activities at a time, and most times end up not being able to meet up with their main objective.

On the other hand a culture that makes use of monochronic time values doing a thing at a time and find it easier to meet their targets.

The Brazilians are more of a Polychronic time culture as described in the question.

3 0
3 years ago
The consumer's level of involvement can lead to two types of buying decisions: __________ or
Olenka [21]

Answer:

The consumer's level of involvement can lead to two types of buying decisions: limited problem solving or extended problem solving

Explanation:

limited problem solving:

It is a problem solving process in which customer is only willing to put very little effort to make a purchase decision in order to fulfill his want or need. Purchaser uses simple decision rules for reaching a a purchase decision with minimal research done. He is not much concerned about the best solution and has limited resources and time for searching information and assessing each alternative thoroughly.

For example: you need a new pair of joggers for gym.  You are already have an idea about joggers and know about new available materials and attributes. So you might do a bit research online and come to a decision comparatively quickly. You might consider your favorite outlet instead of searching for the joggers at every outlet. So you take buying decision limiting involvement in this process.

extended problem solving

In this process the costumer attempts to collect as much information as possible, and thoroughly assess and evaluate product alternatives. So in this situation buyer don't have much idea about the product brands, attributes and characteristics to access the product. Purchaser will research, differentiate and put a lot of effort for taking best buying decision that will fulfill his needs. prior to purchasing the product, he might visit various outlets, research online, search for reviews and suggestions, take information from outlet staff. about the product Marketer should provide with such information to customer.

For example high value items like car, a house etc. Such items are not purchased often so the consumer will invest a lot of time in research and comparison in order  to take the best decision.

6 0
3 years ago
Maribel is putting the finishing touches on her slide presentation. She wants
AleksAgata [21]

Answer:

B

Explanation:

when she is talking over the slides, some people are not good multi-taskers and want to listen to the more interesting thing, which is the audio.

4 0
3 years ago
Read 2 more answers
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