Products “Made in the USA.” “Made in the USA” is a claim stated in many product advertisements or on product labels. Advertisers want consumers to believe that the product is manufactured with 100% U.S. labor and materials- which is often not the case. What does “Made in the USA” mean to the typical consumer? To answer this question, a group of marketing professors conducted an experiment at a shopping mall (Journal of Global Business, Spring 2002). They asked every fourth adult entrant to the mall to participate in the study. A total of 106 shoppers agreed to answer the question, ‘“Made in the USA’ means what percentage of U.S. labor and materials?” The responses of the 106 shoppers are summarized as follows: “100%” (64 shoppers), “75 to 99%” (20 shoppers), “50 to 74%” (18 shoppers), and “less than 50%” (4 shoppers).
- a. What type of data-collection method was used?
- b. What type of variable, quantitative or qualitative, is measured?
- c. Present the data in graphical form. Use the graph to make a statement about the percentage of consumers who believe “Made in the USA” means 100% U.S. labor and materials.
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Chapter 2 Solutions
STATISTICS F/BUS.+ECON.-ACCESS(24WKS.)
- not use ai pleasearrow_forwardand u (C1, C2) = 1/2 = f) Derive analytically and show graphically the solution under other util- ity functions such as u (C1, C2) ac₁+bc2 where a, b > 0, u (C1, C2) = ac₁+bc1/2 acbc2 (assume that the agent is sufficiently rich to avoid the corner solution). What of these utility functions reflects best your own preferences (or indicate other utility function that represent your pref- erences).arrow_forwardnot use ai please don'tarrow_forward
- Explain if any states are not a “friendly” place for tax preparers, payday lenders, title pawn lenders, and “credit approved” used car dealers to operate in and what they have done, regulation-wise.arrow_forwardExplain the regulation or lack of regulation of payday lenders, title pawn lenders, and “credit-approved” used car dealers in Alabama.arrow_forwardExplain why people should avoid the business model of payday lenders, title pawn lenders, and “credit approved” used car dealers.arrow_forward
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