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Whitepunk [10]
3 years ago
6

The marketing researcher for a game company is conducting an experiment to test customer reaction to the pricing of a new game d

esigned for use by adults. A list of customers who had sent the company complaint letters was readily available, and the researcher rearranged this list by ZIP code, sending every third person a color brochure on the new game. Each respondent was asked to return a postcard, stating an intention to purchase or not to purchase the game at the listed price. Which of the following is true?
a. The sampling method ensures that all geographic areas are represented.
b. The external validity of the study is ensured, since respondents who are sitting in their homes are reacting under real life circumstances.
c. The sample is likely to over-represent the lower class.
d. The design of the study suffers from selection bias.
e. None of the above.
Business
1 answer:
SSSSS [86.1K]3 years ago
4 0

Answer:

The correct option is D) The design of the study suffers from selection bias.

Explanation:

In research, Selection Bias occurs when the researcher decides who the respondents are or those who are being evaluated or studied.

Every research ought to be designed in such a way that the respondents are selected at random.

In the information provided, the respondents were selected from a group of people who on a balance of probability were already inclined to decline because it was a list of dissatisfied customers. The chances of them declining to respond or responding with a negative were higher than the chances of them indicating that they would buy and this defeats the purpose of the research. The research ought to have also included a sample of respondents who didn't have the product, who had enjoyed the services of the company and were content, those who didn't even know what the product did until they got the survey.

That way holistic information can be obtained from the research about how different sets of people will react and not just those who are already dissatisfied with the company's product(s).

Some of the ways to avoid selection bias in research are:

  • To employ the use of random techniques selecting sample sets from populations.
  • To check that the traits or characteristics of the larger population are well represented in the samples selected

Cheers

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If the firm sells its product at the market price of $10 per unit, how many workers should the firm employ to maximize profit if
Bingel [31]

Answer:

the data regarding output and the quantity of labor is missing, so I looked for a similar question and found the attached image.

if one employee is hired, total production = $80, and total cost = $55

if two employees are hired, total production = $150, and total cost = $110

if three employees are hired, total production = $210, and total cost = $165

if four employees are hired, total production = $260, and total cost = $260

hiring <u>four employees</u> should maximize profits since MC = MR

7 0
3 years ago
Which do you​ prefer: a bank account that pays 5 %5% per year​ (EAR) for three years​ or: a. An account that pays 2.5 %2.5% ever
Kobotan [32]

Answer:

c. An account that pays 0.5 %0.5% per month for three​ years.

Explanation:

We can evaluate all the option using following formula:

EAR = ( 1 + ( r / m ) )^m -1

a.

2.5% every six months for three years

r= 2.5% = 0.025 / 6 =

m = 12/6 = 2

EAR = ( 1 + 0.025  )^2 -1

EAR = 0.050625 = 5.06%

7.5% every 18 months for three years

r= 7.5% for 1.5 years = 7.5% / 18 = 0.4167% per month = 0.004167 per month

EAR = ( 1 + 0.004167 )^12 -1

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0.5% every month for three years

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EAR = ( 1 + 0.005 )^12 -1

EAR = 0.0616778 = 6.17%

We will prefer an account that pays 0.5 %0.5% per month for three​ years, it pays the highest return.

6 0
4 years ago
Singapore Airlines is rated one of the best airlines in the world and often requires ticket agents to serve as baggage handlers.
kherson [118]

Ticket agents often deal with luggage and so cross-training makes them more efficient.

Singapore Airways has been named this year's 'global's exceptional Airline' in Skytrax's Global Airline Awards. SIA also took the pinnacle spot in the 'world's exceptional First class', 'satisfactory Airline in Asia' and 'exceptional First elegance Airline Seat' categories in the 2018 ratings.

Accomplishing service Excellence price-successfully. SIA has two major assets planes and those and it manages them in order that its carrier is better than its opponents' and its fees are lower. in contrast to different airlines, SIA guarantees that its fleet is usually young.

Singapore has usually been very progressive in relation to patron enjoyment. They have been the first airline to have satellite communications for passengers, and on-demand seatback entertainment screens for economy suites on board their A380.

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3 0
2 years ago
Ivanhoe company purchased machinery with a list price of $88000. They were given a 7% discount by the manufacturer. They paid $4
cestrela7 [59]

Answer:

A) $6194

Explanation:

Price before discount = $88,000

discount rate = 7%

Amount of discount = 7% *$88,000 = $6,160

Price after discount = Price before discount - Amount of discount

= $88,000 - $6,160

Price after discount = $81,840 (this is the price included in depreciation)

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Sales tax = $4,700

Therefore, total cost is therefore = $81,840 + $400 + $4,700 = $86,940

Depreciation per year = (Total cost of the machinery - salvage value) / useful life

= (86,940 - 25,000)/ 10

= 61,940/10

= 6,194

Therefore annual depreciation = $6,194

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3 years ago
If the government subsidizes colleges adn sets the subsidy so that the efficnet number of students entroll, what is the subsidy
slava [35]

If the government subsidizes colleges and sets the subsidy so that the efficient number of students enrolled The subsidy is ​$ 1000 per student and 6 million students enroll.The cost to the taxpayers is ​$ 6 billion.

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They may be broad or narrow, legal or illegal, ethical or unethical. The most common form of subsidy is a producer or consumer subsidy. Producer/production subsidies ensure an advantage for producers by providing either market price support, direct support, or payments for factors of production[3]. Consumer/consumption subsidies generally reduce the price of goods and services to consumers. For example, in the United States, it was cheaper to buy gasoline than bottled water

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6 0
2 years ago
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