Question 1

Marketing segmentation separates consumers of a product into different groups in such a way that members of each group are ____________________ and there are differences between ____________________.

Accepted Answer

similar; groups

Question 2

NARRBEGIN: Healthy foods
Healthy Foods
In segmenting the frozen meal market in Spain, a food manufacturer uses health and diet consciousness as the segmentation variable. Four segments are developed and coded as follows:
 1: Concermed about eating healthy faods
2: Concerned about weight
3: Concerned about health because of illnese
4: Unconcermed To distinguish between groups, surveys are conducted. On the basis of a questionnaire, people are categorized as belonging to one of these groups. A recent survey asked a random sample of 1,500 Spanish adults (20 and over) to complete the survey. Out of the 1,500 people surveyed, 360 indicated that they are concerned about eating healthy foods. The most recent information available reveals that there are 40,256,000 Spanish adults who are 20 and over.NARREND
-{Healthy Foods Narrative} What is the objective of this problem?

Accepted Answer

The problem objective is to describe the population of Spanish adults in terms of their health and diet consciousness.

Question 3

In estimating the population mean $\mu$ when the population size N is small, the confidence interval estimator of $\mu$is $\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }$ .

Accepted Answer

When the population size N is small, a finite population correction factor $\sqrt{\frac{N-n}{N-1}}$ is applied to the standard error in the confidence interval formula to account for the reduced variability.

Question 4

In estimating the total of a population of size N, where N is very large compared to the sample size, the confidence interval estimator of the total is $N \left[ \bar { x } \pm t _ { \alpha / 2 } \cdot s / \sqrt { n } \right]$ .

Accepted Answer

The answer of In estimating the total of a population...

Question 5

To estimate ____________________ when the population size N is small, the confidence interval estimator is $\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }$ .

Accepted Answer

The answer of To estimate ____________________ when the population size...

Question 6

When a population is small relative to the sample size, we must incorporate the ____________________ factor in the calculation of the standard error of estimate of the mean.

Accepted Answer

The answer of When a population is small relative to...

Question 7

Which of the following statements is false?
A)Because there is one single way to segment a market, managers must consider several variable or characteristics that could be used to identify segments.
B)Surveys of customers are used to gather data about various aspects of the market.
C)Statistical techniques are applied to the survey data to define the market segments.
D)Market segmentation separates consumers of a product into different groups in such a way that members of each group are similar to each other and there are differences between groups.

Accepted Answer

This statement is false because there are multiple ways to segment a market, not just one single way. Managers must consider various variables or characteristics that could be used to identify segments, such as demographics, psychographics, behavior, and geographic location.

Question 8

Target marketing focuses on satisfying the demands of all segments of the entire market.

Accepted Answer

Target marketing focuses on satisfying the demands of a specific segment of the entire market, not all segments.

Question 9

Generally speaking, mass marketing has given way to target marketing, which focuses on satisfying the demands of a particular segment of the entire market.

Accepted Answer

This statement is generally true. Over time, businesses have shifted away from a one-size-fits-all approach towards marketing to specific segments within the overall market. This allows for a more personalized approach that can increase customer satisfaction and sales.

Question 10

A population is defined to be small if it is ____________________ than ____________________ times the size of the sample.

Accepted Answer

The answer of A population is defined to be small...

Question 11

Mass marketing refers to the mass production and marketing by a company of all products the company produces for a single segment of the entire market.

Accepted Answer

Mass marketing refers to the marketing strategy in which a company targets a large and diverse market with a standardized product and marketing mix. It does not involve producing all products for a single segment of the entire market.

Question 12

Which of the following statements is correct regarding mass marketing?
A)It refers to the mass production and marketing by a company of a single product for the entire market.
B)It is especially effective for commodity goods such as gasoline, which are very difficult to differentiate from the competition, except through price and convenience of availability.
C)Generally speaking, mass marketing has given way to target marketing, which focuses on satisfying the demands of a particular segment of the entire market.
D)All of these choices are true.

Accepted Answer

All the statements provided accurately describe aspects of mass marketing: A) highlights its focus on a single product for the entire market, B) notes its effectiveness for commodities, and C) acknowledges the shift towards target marketing.

Question 13

If the lower and upper confidence limits of the population proportion p, using a sample of size 1500, are 0.184 and 0.238, respectively, then the lower and upper confidence limits of the total number of successes in the population, given that the population size is 750,000, are respectively:
A)276 and 357
B)137,724 and 178,143
C)138,000 and 178,500
D)138,276 and 179,857

Accepted Answer

The answer of If the lower and upper confidence limits...

Question 14

Market segmentation separates consumers of a product into different groups in such a way that members of each group are similar to each other and there are differences between groups.

Accepted Answer

This is the definition of market segmentation, and it is true.

Question 15

In market segmentation, if education is the segmentation variable of interest, then possible segments of the market include: some high school, high school graduates, some college, college or university graduates.

Accepted Answer

This is correct. Education level can be used as a basis for market segmentation, and some possible segments based on education level include those with different levels of education such as those listed.

Question 16

Mass marketing is especially effective for ____________________ goods such as gasoline, which are difficult to differentiate from the competition except through price and availability.

Accepted Answer

The answer of Mass marketing is especially effective for ____________________...

Question 17

If the lower and upper confidence limits of the population mean $\mu$, using a sample of size 100, are 225 and 280, respectively, then the lower and upper confidence limits of the total of a population of size 3000 are respectively
A)652,500 and 812,000
B)675,000 and 840,000
C)697,500 and 868,000
D)652,862 and 812,452

Accepted Answer

The answer of If the lower and upper confidence limits...

Question 18

When is the finite population correction used?
A)When the population is more than or equal to 20 times the sample size.
B)When the population is less than or equal to 20 times the population size.
C)When the population is equal to 20 times the population size.
D)Whenever the sample size is small, no matter what the population size is.

Accepted Answer

The answer of When is the finite population correction used?
A)When...

Question 19

Mass Marketing refers to the mass production and marketing by a company of a single product for the entire market.

Accepted Answer

Mass Marketing is when a company produces and markets a single product for the entire market.

Question 20

____________________ refers to the mass production and marketing by a company of a single product for the entire market.

Accepted Answer

The answer of ____________________ refers to the mass production and...

Quiz 12: Inference About a Population

Marketing segmentation separates consumers of a product into different groups in such a way that members of each group are and there are differences between .

In estimating the population mean $\mu$ when the population size N is small, the confidence interval estimator of $\mu$ is $\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }$ .

In estimating the total of a population of size N, where N is very large compared to the sample size, the confidence interval estimator of the total is $N \left[ \bar { x } \pm t _ { \alpha / 2 } \cdot s / \sqrt { n } \right]$ .

To estimate ____________________ when the population size N is small, the confidence interval estimator is $\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }$ .

When a population is small relative to the sample size, we must incorporate the ____________________ factor in the calculation of the standard error of estimate of the mean.

Which of the following statements is false?

Target marketing focuses on satisfying the demands of all segments of the entire market.

Generally speaking, mass marketing has given way to target marketing, which focuses on satisfying the demands of a particular segment of the entire market.

A population is defined to be small if it is than times the size of the sample.

Mass marketing refers to the mass production and marketing by a company of all products the company produces for a single segment of the entire market.

Which of the following statements is correct regarding mass marketing?

If the lower and upper confidence limits of the population proportion p, using a sample of size 1500, are 0.184 and 0.238, respectively, then the lower and upper confidence limits of the total number of successes in the population, given that the population size is 750,000, are respectively:

Market segmentation separates consumers of a product into different groups in such a way that members of each group are similar to each other and there are differences between groups.

In market segmentation, if education is the segmentation variable of interest, then possible segments of the market include: some high school, high school graduates, some college, college or university graduates.

Mass marketing is especially effective for ____________________ goods such as gasoline, which are difficult to differentiate from the competition except through price and availability.

If the lower and upper confidence limits of the population mean $\mu$ , using a sample of size 100, are 225 and 280, respectively, then the lower and upper confidence limits of the total of a population of size 3000 are respectively

When is the finite population correction used?

Mass Marketing refers to the mass production and marketing by a company of a single product for the entire market.

____________________ refers to the mass production and marketing by a company of a single product for the entire market.

Quiz 12: Inference About a Population

Marketing segmentation separates consumers of a product into different groups in such a way that members of each group are ____________________ and there are differences between ____________________.

In estimating the population mean μ\muμ when the population size N is small, the confidence interval estimator of μ\muμ is xˉ±tω/2⋅snN−nN−1\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }xˉ±tω/2​⋅n​s​N−1N−n​​ .

In estimating the total of a population of size N, where N is very large compared to the sample size, the confidence interval estimator of the total is N[xˉ±tα/2⋅s/n]N \left[ \bar { x } \pm t _ { \alpha / 2 } \cdot s / \sqrt { n } \right]N[xˉ±tα/2​⋅s/n​] .

To estimate ____________________ when the population size N is small, the confidence interval estimator is xˉ±tω/2⋅snN−nN−1\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }xˉ±tω/2​⋅n​s​N−1N−n​​ .

When a population is small relative to the sample size, we must incorporate the ____________________ factor in the calculation of the standard error of estimate of the mean.

Which of the following statements is false?

Target marketing focuses on satisfying the demands of all segments of the entire market.

Generally speaking, mass marketing has given way to target marketing, which focuses on satisfying the demands of a particular segment of the entire market.

A population is defined to be small if it is ____________________ than ____________________ times the size of the sample.

Mass marketing refers to the mass production and marketing by a company of all products the company produces for a single segment of the entire market.

Which of the following statements is correct regarding mass marketing?

If the lower and upper confidence limits of the population proportion p, using a sample of size 1500, are 0.184 and 0.238, respectively, then the lower and upper confidence limits of the total number of successes in the population, given that the population size is 750,000, are respectively:

Market segmentation separates consumers of a product into different groups in such a way that members of each group are similar to each other and there are differences between groups.

In market segmentation, if education is the segmentation variable of interest, then possible segments of the market include: some high school, high school graduates, some college, college or university graduates.

Mass marketing is especially effective for ____________________ goods such as gasoline, which are difficult to differentiate from the competition except through price and availability.

If the lower and upper confidence limits of the population mean μ\muμ , using a sample of size 100, are 225 and 280, respectively, then the lower and upper confidence limits of the total of a population of size 3000 are respectively

When is the finite population correction used?

Mass Marketing refers to the mass production and marketing by a company of a single product for the entire market.

____________________ refers to the mass production and marketing by a company of a single product for the entire market.

Marketing segmentation separates consumers of a product into different groups in such a way that members of each group are and there are differences between .

In estimating the population mean $\mu$ when the population size N is small, the confidence interval estimator of $\mu$ is $\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }$ .

In estimating the total of a population of size N, where N is very large compared to the sample size, the confidence interval estimator of the total is $N \left[ \bar { x } \pm t _ { \alpha / 2 } \cdot s / \sqrt { n } \right]$ .

To estimate ____________________ when the population size N is small, the confidence interval estimator is $\bar { x } \pm t _ { \omega / 2 } \cdot \frac { s } { \sqrt { n } } \sqrt { \frac { N - n } { N - 1 } }$ .

A population is defined to be small if it is than times the size of the sample.

If the lower and upper confidence limits of the population mean $\mu$ , using a sample of size 100, are 225 and 280, respectively, then the lower and upper confidence limits of the total of a population of size 3000 are respectively