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lubasha [3.4K]
3 years ago
9

John Chong is an inexperienced entrepreneur in global business. He wants to sell his product, Zulu doll, a toy for kids below th

e age of eight, in every corner of the world. He wants to examine all potential markets but wants to keep his costs low. John has asked you to explain a few things about analyzing international markets. When screening a potential market, which of the following would you advise John to do first?a. assessment of the national business environmentb. selection of the marketc. identification of the basic appeal for marketsd. measurement of market potential
Business
1 answer:
SSSSS [86.1K]3 years ago
7 0

Answer:

c. identification of the basic appeal for markets

Explanation:

As John is an inexperienced businessman and wants to sell his Zulu doll product, a toy for children who have less than 8 years in every part of the world and want to keep the cost low

So first thing he should do is feasible study whether his product is feasible or not and then identify the market with respect to the price, quality, competitors, etc so that he get a good idea

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Answer:

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Explanation:

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Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

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And for this case we want this probability:

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And for this case we can use the z score given by:

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And if we use this formula we got:

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X \sim N(515,100)  

Where \mu=515 and \sigma=100

We select a sample of size n=90, since the distribution for X is normal then the distribution for the sample size is also normal

\bar X \sim N(\mu, \frac{\sigma}{\sqrt{n}}=\frac{100}{\sqrt{90}}=10.54)

And for this case we want this probability:

P(515-10 < \bar X < 515+10)

And for this case we can use the z score given by:

z= \frac{\bar X -\mu}{\sigma_{\bar x}}

And if we use this formula we got:

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And we can use excel or the normal standard table to find this probability:

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And if we use this formula we got:

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