PA 20-7 You are given the following customer responses to a purchase intent survey for a new electric bicycle...
As per results provided total people who took survey were 12+22+31+111+201 = 377
Potential customers are 1,500,000. Since awareness reached to 5% customer only, so potential customers who know about product will be 5% of 1,500,000 which is 75,000
Based on survey % wise response of the cutomers was
Definitely would use = 12/377 = 3.18%
Probably would use = 22/377 = 5.84%
Might or moght not use = 31/377 = 8.22%
Probably would not use = 111/377 = 29.44%
Definitely would not use = 201/377= 53.32%
So as per result expected people to use product are 3.18%(definite users) and 5.84% (Probable users)
Also as given probability of definite users using product is 0.4 and probability of probable users using product is 0.2
So total people who will adopt product will be 75,000* 3.18% *0.4 + 75,000*5.84%*0.2 = 954.90+ 875.33 =1830
c) option is correct
Thanks
PA 20-7 You are given the following customer responses to a purchase intent survey for a...
One of your employees has suggested that your company develop a new product. You decide to take a random sample of your customers and ask whether or not there is interest in the new product. The response is on a 1 to 5 scale with 1 indicating "definitely would not purchase"; 2, "probably would not purchase"; 3, "not sure"; 4, "probably would purchase"; and 5, "definitely would purchase." For an initial analysis, you will record the responses 1, 2, and...
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