Zynex Co manufactures a range of electronic devices, which it sells to online stores and retail outlets. It has a risk-seeking attitude and its objective is to maximise profit. Six months ago it released a new version of its smartphone, the ZV. Zynex Co's main smartphone competitor has announced that it will launch a new version of its smartphone in one month's time and Zynex Co is concerned about the effect of the launch of this rival product on future demand for the ZV. For each of the previous ten smartphones launched by its competitors, Zynex Co's marketing team has analysed the impact on Zynex Co's sales performance. This data was retained specifically for the purpose of forecasting future demand of Zynex Co's smartphones and is stored in the company's financial database. Based on this analysis, the marketing team has identified three possible outcomes for the impact on the demand of the ZV: a small decrease, a medium decrease and a large decrease. Production volumes for the ZV need to be adjusted, and based on the potential changes in demand, Zynex Co has determined four production volumes. The following pay-off table has been produced showing the possible profits which can be earned: Production volumes (units) 150,000 200,000 250,000 300,000 Probability $'000 $'000 $'000 $'000 0.5 Demand Small decrease Medium decrease 2,000 2,800 3,200 3,400 1,000 1,100 1,500 1,200 Large decrease 900 700 600 0.3 0.2 1,000 Time Remaining 02:09:04 21 01 2 Close All P Elag for Revie Which of the following correctly describes the type of analysis conducted by the marketing team and the type of data collected? Primary research, quantitative data Secondary research, quantitative data Primary research, qualitative data Secondary research, qualitative data
Zynex Co manufactures a range of electronic devices, which it sells to online stores and retail outlets. It has a risk-seeking attitude and its objective is to maximise profit. Six months ago it released a new version of its smartphone, the ZV. Zynex Co's main smartphone competitor has announced that it will launch a new version of its smartphone in one month's time and Zynex Co is concerned about the effect of the launch of this rival product on future demand for the ZV. For each of the previous ten smartphones launched by its competitors, Zynex Co's marketing team has analysed the impact on Zynex Co's sales performance. This data was retained specifically for the purpose of forecasting future demand of Zynex Co's smartphones and is stored in the company's financial database. Based on this analysis, the marketing team has identified three possible outcomes for the impact on the demand of the ZV: a small decrease, a medium decrease and a large decrease. Production volumes for the ZV need to be adjusted, and based on the potential changes in demand, Zynex Co has determined four production volumes. The following pay-off table has been produced showing the possible profits which can be earned: Production volumes (units) 150,000 200,000 250,000 300,000 Probability $'000 $'000 $'000 $'000 0.5 Demand Small decrease Medium decrease 2,000 2,800 3,200 3,400 1,000 1,100 1,500 1,200 Large decrease 900 700 600 0.3 0.2 1,000 Time Remaining 02:09:04 21 01 2 Close All P Elag for Revie Which of the following correctly describes the type of analysis conducted by the marketing team and the type of data collected? Primary research, quantitative data Secondary research, quantitative data Primary research, qualitative data Secondary research, qualitative data
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Zynex Co manufactures a range of electronic devices, which it sells to online stores
and retail outlets. It has a risk-seeking attitude and its objective is to maximise profit.
Six months ago it released a new version of its smartphone, the ZV. Zynex Co's main
smartphone competitor has announced that it will launch a new version of its
smartphone in one month's time and Zynex Co is concerned about the effect of the
launch of this rival product on future demand for the ZV.
For each of the previous ten smartphones launched by its competitors, Zynex Co's
marketing team has analysed the impact on Zynex Co's sales performance. This
data was retained specifically for the purpose of forecasting future demand of Zynex
Co's smartphones and is stored in the company's financial database. Based on this
analysis, the marketing team has identified three possible outcomes for the impact
on the demand of the ZV: a small decrease, a medium decrease and a large
decrease.
Production volumes for the ZV need to be adjusted, and based on the potential
changes in demand, Zynex Co has determined four production volumes. The
following pay-off table has been produced showing the possible profits which can be
earned:
Production volumes (units)
150,000
200,000
250,000
300,000
Probability
$'000
$'000
Demand
Small
$'000
$'000
0.5
2,000
decrease
2,800
3,200
3,400
Medium
1,000
decrease
1,100
1,500
1,200
Large
900
1,000
700
600
decrease
0.3
0.2
Time Remaining 02:09:04
21 of 34
Close All P Flag for Review
Which of the following correctly describes the type of analysis conducted by the marketing team
and the type of data collected?
Primary research, quantitative data
Secondary research, quantitative data
Primary research, qualitative data
Secondary research, qualitative data
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