A marketing research firm has these requirements for validity of a market survey: Survey at least 5,000
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Question:
A marketing research firm has these requirements for validity of a market survey:
- Survey at least 5,000 U.S. households
- Survey at least 1,000 households whose heads are 30 years old
- Survey at least 750 households whose heads are between 31 and 50
- Ensure that no more than 20% of those surveyed are 51 years of age
COST PER PERSON SURVEYED ($) | ||
Age <=30 | Age 31 | Age >= 51 |
8 | 9 | 7.5 |
Find the minimum interview costs considering the above business rules.
Solution needs to be submitted in excel format.
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