Business, 20.03.2020 23:54 nefertiri64

A large consumer goods company ran a television advertisement for one of its soap products. On the basis of a survey that was conducted, probabilities were assigned to the following events. The probabilities assigned were , , and a. If an individual recalls seeing the advertisement, what is the probability that the individual purchased the product (to 1 decimals)? Does seeing the advertisement increase the probability that the individual will purchase the product? As a decision maker, would you recommend continuing the advertisement (assuming that the cost is reasonable)? b. Assume that individuals who do not purchase the company’s soap product buy from its competitors. What would be your estimate of the company’s market share (to the nearest whole number)? Would you expect that continuing the advertisement will increase the company's market share? c. The company also tested another advertisement and assigned it values of . What is for this other advertisement (to 3 decimals)? Which advertisement seems to have had the bigger effect on customer purchases?

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A large consumer goods company ran a television advertisement for one of its soap products. On the b...

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