In 2011, Brand A MP3 Players had 45 of the market, Brand B had 35, and Brand C had 20. This year the makers of brand C launched a heavy advertising campaign. A random sample of electronic stores shows that of 10,000 MP3 Players sold, 4,350 were Brand A, 3,450 were Brand B, and 2,200 were Brand C. Has the market changed? Test at = .01.
Question 2
A company that manufactures baseball gloves is contemplating whether to increase its advertising budget by 3 million for next year. If the expanded advertising campaign is successful, the company expects sales to increase by 4.8 million next year. If the advertising campaign fails, the company expects sales to increase by only 900,000 next year. If the advertising budget is not increased, the company expects sales to increase by 450,000 . Identify the possible outcomes in this decision-making problem.
a. Two choices: (1) increase the budget and (2) do not increase the budget.
b. Four consequences resulting from the Increase/Do Not Increase and Successful/Not Successful combinations.
c. Two choices: (1) campaign is successful and (2) campaign is not successful.
d. The increase in sales dollars next year.
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