A study was recently done in which 500 people were asked to indicate their preferences for one of three products.The following table shows the breakdown of the responses by gender of the respondents. If the people conducting the study wish to assess the probability that product A will be preferred by members of the target population,the method of assessment to be used would most likely be:
A)classical probability assessment.
B)subjective assessment.
C)relative frequency of occurrence.
D)independent events.

Question

A study was recently done in which 500 people were asked to indicate their preferences for one of three products.The following table shows the breakdown of the responses by gender of the respondents.  If the people conducting the study wish to assess the probability that product A will be preferred by members of the target population,the method of assessment to be used would most likely be:
A)classical probability assessment. 
B)subjective assessment. 
C)relative frequency of occurrence. 
D)independent events.

Quizplus · Accepted Answer

The best method for assessing the probability that product A will be preferred by members of the target population would be to use relative frequency of occurrence. This involves analyzing the actual responses from a representative sample of the target population and calculating the proportion of individuals who preferred product A over the other options. This approach is based on observed data and can provide a more accurate reflection of the true probability than classical probability assessment or subjective assessment. Independent events would not be relevant in this context, as the preference of one individual does not impact the likelihood of another individual preferring the same product.

A Study Was Recently Done in Which 500 People Were