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1. Trade Kings ran a television advertisement on ZNBC for one of its soap product s. On the basis of a survey that was conducted, probabilities were assigned to t he following events. B = individual purchased the product S = individual recalls seeing the advertisement BnS = individual purchased the product and recalls seeing the advertisement he probabilities assigned were P(B)=0.20, P(S)=0.40, and P(BnS) = 0.12 a. What is the probability of an individual's purchasing the product given that the individual recalls seeing the advertisement? Does seeing the advertise ment 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 m arket share? Would you expect that continuing the advertisement will incre ase the company's market share? Why or why not? c. The company also tested another advertisement and assigned it values of P(S)=.30 and P(Bns) =0.10. What is P(BIS) for this other advertisement? w hich advertisement seems to have had the bigger effect on customer purch ases?

1. Trade Kings ran a television advertisement on ZNBC for one of its soap product s. On the basis of a survey that was conducted, probabilities were assigned to t he following events. B = individual purchased the product S = individual recalls seeing the advertisement BnS = individual purchased the product and recalls seeing the advertisement he probabilities assigned were P(B)=0.20, P(S)=0.40, and P(BnS) = 0.12 a. What is the probability of an individual's purchasing the product given that the individual recalls seeing the advertisement? Does seeing the advertise ment 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 m arket share? Would you expect that continuing the advertisement will incre ase the company's market share? Why or why not? c. The company also tested another advertisement and assigned it values of P(S)=.30 and P(Bns) =0.10. What is P(BIS) for this other advertisement? w hich advertisement seems to have had the bigger effect on customer purch ases?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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1. Trade Kings ran a television advertisement on ZNBC for one of its soap product s. On the basis of a survey that was conducted, probabilities were assigned to t he following events. B = individual purchased the product S = individual recalls seeing the advertisement BOS = individual purchased the product and recalls seeing the advertisement The probabilities assigned were P(B)=D0.20, P(S)=0.40, and P(BNS) = 0.12 ä. What is the probability of an individual's purchasing the product given that the individual recalls seeing the advertisement? Does seeing the advertise ment 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 m arket share? Would you expect that continuing the advertisement will incre ase the company's market share? Why or why not? C. The company also tested another advertisement and assigned it values of P(S)=.30 and P(Bns) =0.10. What is P(BIS) for this other advertisement? w hich advertisement seems to have had the bigger effect on customer purch ases? 2. It is estimated that 20 % of students who take MRM802 fail in any particular se mester. Using binomial probability distribution, what is the probability that 4 ou t of 6 students chosen randomly are going to fail MRM802.
Transcribed Image Text:1. Trade Kings ran a television advertisement on ZNBC for one of its soap product s. On the basis of a survey that was conducted, probabilities were assigned to t he following events. B = individual purchased the product S = individual recalls seeing the advertisement BOS = individual purchased the product and recalls seeing the advertisement The probabilities assigned were P(B)=D0.20, P(S)=0.40, and P(BNS) = 0.12 ä. What is the probability of an individual's purchasing the product given that the individual recalls seeing the advertisement? Does seeing the advertise ment 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 m arket share? Would you expect that continuing the advertisement will incre ase the company's market share? Why or why not? C. The company also tested another advertisement and assigned it values of P(S)=.30 and P(Bns) =0.10. What is P(BIS) for this other advertisement? w hich advertisement seems to have had the bigger effect on customer purch ases? 2. It is estimated that 20 % of students who take MRM802 fail in any particular se mester. Using binomial probability distribution, what is the probability that 4 ou t of 6 students chosen randomly are going to fail MRM802.
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