Using the set of symbols commonly used in marketing research to denote experimental designs, which symbol below represents the random assignment of test units or groups to separate treatments?
A) T
B) O
C) R
D) X
C
You might also like to view...
The excess of current assets over current liabilities is referred to as working capital
a. True b. False Indicate whether the statement is true or false
When the TRIPS Agreement came into effect, the minimum term of protection for patents was set at 20 years for WTO member states
Indicate whether the statement is true or false
The future value of an ordinary annuity of $2,000 each year for 10 years, deposited at 12 percent, is ________
A) $35,098 B) $20,000 C) $39,310 D) $11,300
Visual Park is considering marketing one of its two television models for the coming Christmas season: Model A or Model B. Model A is a unique featured television and appears to have no competition. Estimated profits (in thousands of dollars) under high, medium, and low demand are given below:
Demand Model AHigh Medium Low Profit1200 900 500 Probability0.2 0.6 0.2 Visual Park is optimistic about the TV Model B. However, the concern is that profitability will be affected if a competitor launches a TV model which has similar features as Model B. Estimated profits (in thousands of dollars) with and without competition is as follows: Model BDemand With competitionHigh Medium Low Profit1,200 900 500 Probability0.2 0.3 0.5 Model BDemand Without competitionHigh Medium Low Profit1,600 1,100 700 Probability0.6 0.2 0.2 a. Develop a decision tree for the Visual Park problem.b. For planning purposes, Visual Park believes there is a 0.7 probability that its competitor will launch a TV model similar to Model B. Given this probability of competition, the director of planning recommends marketing the Model A. Using expected value, what is your recommended decision?c. Show a risk profile for your recommended decision.d. Use sensitivity analysis to determine what the probability of competition for Model B would have to be for you to change your recommended decision alternative. What will be an ideal response?