Reasons for using a z-score
January 4, 2018
The woman offers to accept a lower salary in exchange for a large bonus if she meets the completion deadline.
January 4, 2018

Introducing a new product in the market

  • Companies planning to introduce a new product in the market must define the “target” for the product.  Age and gender are two of the most important demographic variables.  The following two-way table describes the age and marital status of American women in 1999.  The table entries are in thousands of women.
    1. Compute the marginal distribution of marital status for all adult women (use percent).  Either draw by hand or use Excel to create a bar chart to display this distribution. Insert this graph into Word and discuss it.
    2. Compare the conditional distributions of marital status for women aged 18 to 24 and women ages 40 to 64.  Discuss the most important difference between the two age groups.
    3. Your company is planning a magazine aimed at women who have never been married.  Find the conditional distribution of age among never-married women and display it in a bar graph. Insert this graph into word.  Discuss what age group or groups you would suggest to your magazine to target.

 

Marital Status
Age (years) Never Married Married Widowed Divorced Total
18 to 24 10,240 2,598 9 184 13,031
25 to 39 7,640 20,129 193 2,930 30,892
40 to 64 3,234 28,923 2,357 6,764 41,278
Over 65 751 8,270 8,385 1,263 18,669
Total 21,865 59,920 10,944 11,141 103,870

 

 

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