Some people enjoy the anticipation of an upcoming product or event and prefer to pay in advance

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Some people enjoy the anticipation of an upcoming product or event and prefer to pay in advance and delay the actual consumption/delivery date. In other cases, people do not want a delay. An article in the Journal of Marketing Research reported on an experiment in which 50 individuals were told that they had just purchased a ticket to a concert and 50 were told that they had just purchased a personal digital assistant (PDA). The participants were then asked to indicate their preferences for attending the concert or receiving the PDA. Did they prefer tonight or tomorrow, or would they prefer to wait two to four weeks? The individuals were told to ignore their schedule constraints in order to better measure their willingness to delay the consumption/delivery of their purchase. The following table gives partial results of the study:
Some people enjoy the anticipation of an upcoming product or

a. What proportion of the participants would prefer to delay the date of the concert?
b. What proportion of the participants would prefer to delay receipt of a new PDA?
c. Using the 0.05 level of significance, is there evidence of a significant difference in the proportion willing to delay the date of the concert and the proportion willing to delay receipt of a new PDA?

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Basic Business Statistics Concepts And Applications

ISBN: 9780132168380

12th Edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

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