product
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
Your company is thinking about investing in a new product launch. In order to be profitable, the uptake (percent of visitors who purchase the product) on the website needs to be above 3.5 percent. You ran a short test and found that 31 out of 750 visitors to the site did purchase the product. Are you 95% confident that the product is profitable?
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