Quiz Space

Market Research · Quiz 1 · 25 Feb 2024 · January 2024 term

Question 7: The same company now decides to do a taste test for its m…

Question 7

+2 marksNumerical answer

Answer the given subquestions.

The same company now decides to do a taste test for its milk biscuits among a random sample of children. The company decides that the key metric will be the liking of the overall taste measured on a 5 point scale from “do not like at all” to like very much”. The company wants to be 95% confident that the findings on the mean score on the 5 point scale is plus or minus 10% accurate. What should be the sample size?

Show answer

Correct answer: 172

See the whole paperTake it as a mock test

Question 7 of 25 in the IIT Madras BS Market Research (Market Research) Quiz 1 paper sat on 25 Feb 2024, in the January 2024 term (IIT M DEGREE AN2 EXAM QDB2 25 Feb 2024). It carries 2 marks.

More questions from this paper

  1. Q1For the following situations, what sampling method is optimal?\ A company plans to do a house-to-house field survey to …
  2. Q2For the following situations, what sampling method is optimal?\ An insurance company wants to do a customer satisfactio…
  3. Q3For the following situations, what sampling method is optimal?\ A biscuits company wants to conduct a small sample stud…
  4. Q4For the following situations, what sampling method is optimal?\ A garments company plans to understand feedback on a ne…
  5. Q5For the following situations, what sampling method is optimal?\ An airline wants to know how satisfied its passengers a…
  6. Q6A manufacturer of biscuits wants to do a sample survey about the popularity of milk-based biscuits. It plans to do a qu…
  7. Q8If the company instead decides that the key metric is the percentage of customers picking “like very much”, and wants t…
  8. Q9Who is the Chief Wage Earner ?
  9. Q10Who is the householder / housewife?
  10. Q11Please look at the grid below and identify the SEC under the given situations of the household and answer the subquesti…
  11. Q12Please look at the grid below and identify the SEC under the given situations of the household and answer the subquesti…
  12. Q13Please look at the grid below and identify the SEC under the given situations of the household and answer the subquesti…
  13. Q14Please look at the grid below and identify the SEC under the given situations of the household and answer the subquesti…
  14. Q15Please look at the grid below and identify the SEC under the given situations of the household and answer the subquesti…
  15. Q16Given some statements with respect to questionnaire design and scales. Pl indicate true / false for each statement in t…
  16. Q17Given some statements with respect to questionnaire design and scales. Pl indicate true / false for each statement in t…
  17. Q18Given some statements with respect to questionnaire design and scales. Pl indicate true / false for each statement in t…
  18. Q19Given some statements with respect to questionnaire design and scales. Pl indicate true / false for each statement in t…
  19. Q20Given some statements with respect to questionnaire design and scales. Pl indicate true / false for each statement in t…
  20. Q21Given some statements with respect to qualitative research. Pl indicate true / false for each statement in the given su…
  21. Q22Given some statements with respect to qualitative research. Pl indicate true / false for each statement in the given su…
  22. Q23Given some statements with respect to qualitative research. Pl indicate true / false for each statement in the given su…
  23. Q24Given some statements with respect to qualitative research. Pl indicate true / false for each statement in the given su…
  24. Q25Given some statements with respect to qualitative research. Pl indicate true / false for each statement in the given su…