Preference ranking data were obtained from 20 respondents for three brands of dishwashers: X, Y, and Z. Y and Z are existing brands selling for $225 and $175 respectively, while X is a proposed new brand. Table 1 provides the preference ranking data for 3 of the 20 respondents, (i.e., all 3 provided the identical preference ranking indicated in Table 1), Table 2 gives the data for 5 respondents, Table 3 for 4 respondents, and Tables 4 and 5 for 6 and 2 respondents respectively. A rank of 1 indicates the most- preferred product, while 15 indicates the least-preferred product.

1.Compute the proportion of first-place votes for brand X as a function of price when brands Y and Z are at their current prices. (First place is meant in a relative, not absolute sense.)

2.What proportion of first place votes will X receive if its price is $200 while brands Y and Z lower their prices to $200 and $150 respectively?

3.Which brand (Y or Z) suffers the greatest loss in first-place votes with the entry of brand X at $200? Assume for part (c) that brands Y and Z are selling at their regular price, i.e., $225 and $175 respectively.

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