Question

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A company started and managed by business students is selling campus calendars. The students have conducted a market survey with the various campus constants to determine sales potential and identity which market segments should be targeted. The accompanying table shows the results of the market survey Complete parts a through below Click the icon to view the table of results a) What percent of all these respondents are alum? soft respondents are alumni (Round to one decimal place as needed) b) What percent of these respondents are very likely to buy the calendar? % of all respondents are very ikely to buy the calendar (Round to one decimal place as needed) c) What percent of the respondents who are very likely to buy the calendar are alum? of the respondents who are very likely to buy the calendar are alumni (Round to one decimal place as needed) d) or the alumni, what percent are very likely to buy the calendar? Click to select your answers)

Answer 1

Buying Likelihood Unlikely Moderately Likely Very Likely Total Students 208 375 316 899 Faculty/Staff 100 154 98 352 Alumni 18 17 17 52 Town Residents 10 52 42 104 Total 336 598 473 1407 a) Percentage of alumni = 52/1407 * 100 = 3.69% = 3.7% 3.7% of all respondents are alumni. b) Percentage of respondents who are very likely to buy the calendar = 473/1407 * 100 = 33.6% 33.6% of all respondents are very likely to buy the calendar. c) Percentage of alumni from the respondents who are very likely to buy the calendar = 17/473*100 = 3.6% 3.6% of the respondents who are very likely to buy the calendar are alumni. d) perentage of alumni who are very likely to buy the calendar = 17/52 * 100 = 32.7% 32.7% of alumni are very likely to buy the calendar. e) Marginal distribution of the campus constituents are as follows- Students - 899/1407 * 100 = 63.9% Faculty/Staff - 352/1407 * 100 = 25.0% Alumni - 52/1407 * 100 = 3.7% Town Residents - 104/1407 * 100 = 7.4% 63.9% of the campus consists of students, 25% of the campus consists of faculty/staff, 3.7% of the campus consists of alumni, and 7.4% of the campus consists of town residents. f) The conditional distribution of the campus constituents among those very likely to buy the calendar are as follows: Students - 316/473 * 100 = 66.8% Faculty/Staff - 98/473 * 100 = 20.7% Alumni - 17/473 * 100 = 3.6% Town Residents - 42/473 * 100 = 8.9% 66.8% students, 20.7% faculty/staff, 3.6% alumni, and 8.9% town residents g) There is not much difference between the marginal distribution of the campus constituents and the conditional distribution of the campus constituents among those very likely to buy the calendar. Hence the correct answer is E. No, the constituents are evenly distributed and no person from each constituent is more likely to buy the calendar than another.