The expected value of a random variable is also called its mean
Indicate whether the statement is true or false
TRUE
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The customer-driven marketing strategy involves four steps: market segmentation, market targeting, positioning, and differentiation
Indicate whether the statement is true or false
The primary purpose of asking a rephrasing question is to:
A. identify the prospect's concern. B. clarify the prospect's meaning. C. probe for the prospect's objections. D. encourage free discussion. E. emphasize an area of agreement.
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the issuance of materials to production is:
A. Debit Raw Materials Inventory $195,000; credit Accounts Payable $195,000. B. Debit Work in Process Inventory $195,000; credit Raw Materials Inventory $195,000. C. Debit Raw Materials Inventory $195,000; credit Work in Process Inventory $195,000. D. Debit Finished Goods Inventory $195,000; credit Raw Materials Inventory $195,000. E. Debit Work in Process Inventory $165,000; debit Factory Overhead $30,000; credit Raw Materials Inventory $195,000.
Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas. What is this segmentation variable called?
A. Micromarketing B. Population C. Market density D. MSA E. PMSA