Xr12-35* OfficeMax, a chain that sells a wide variety of office equipment often features sales of products
Question:
Xr12-35* OfficeMax, a chain that sells a wide variety of office equipment often features sales of products whose prices are reduced because of rebates. Some rebates are so large that the effective price becomes $0.
The goal is to lure customers into the store to buy other nonsale items. A secondary objective is to acquire addresses and telephone numbers to sell to telemarketers and other mass marketers. During one week in January, OfficeMax offered a 100-pack of CD-ROMs (regular price $29.99 minus $10 instant rebate, $12 manufacturer’s rebate, and $8 OfficeMax mail-in rebate). The number of packages was limited, and no rain checks were issued. In all OfficeMax stores, 2,800 packages were in stock.
All were sold. A random sample of 122 buyers was undertaken. Each was asked to report the total value of the other purchases made that day. Estimate with 95% the total spent on other products purchased by those who bought the CD-ROMs.
Step by Step Answer:
Statistics For Management And Economics
ISBN: 9781133420774
9th Edition
Authors: Gerald Keller, Kenneth C Louden