Question
Suppose that from survey information, Gavin and Finn estimate that 11.55% of those who use smokers and are aware of their product will buy
Suppose that from survey information, Gavin and Finn estimate that 11.55% of those who use smokers and are aware of their product will buy at the $70 price point. What is the minimum number of people who use smokers that would need to be aware of their product so that their profit, using the labor- intensive production method ($650 for equipment and $12.75 per unit), is at least $291,703?
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Statistics Learning From Data
Authors: Roxy Peck
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