Reference no: EM132234016
1. Consider the following payoff table that represents the profits earned for each alternative (A, B, and C) under the states of nature S1, S2, and S3. S1 S2 S3 A $60 $145 $120 B $75 $125 $110 C $95 $85 $130 Refer to the payoff table. What is the expected value of perfect information (EVPI)? Assume P(S1) = 0.5 and P(S2) = 0.25.
a. $15 b. $11.25 c. $0 d. $20
2. Which of the following is an advantage of using the radio medium for advertising?
a. Fleeting exposure
b. High geographic selectivity
c. Low audience selectivity
3. Which of the following is an advantage of using the newspaper medium for advertising?
a. Good pass-along readership b. Fleeting exposure c. Low audience selectivity d. Short life e. Timeliness
4. Which of the following approaches could be used to establish the total marketing communications budget?
a. Affordable method b. Objective-and-task method c. Percentage-of-sales method d. A and C e. All of the above
5. The competition between Amtrak, Hertz, and Delta Airlines for the travelers’ dollar is considered indirect competition because these services can be substituted for one another.