Answer in Statistics and Probability for Onnie #251478
October 25th, 2022
You would be introducing a new product in your company to increase the sales because the company’s sales has been declining for the past years. Initially, you would want to find out whether such product will be the preferred product by the consumers. What technique would you use and why?
It should be used Simple random sampling, where each individual is chosen entirely by chance and each member of the population has an equal chance, or probability, of being selected.
So, the probability of choosing the new product by consumers does not depend on any circumstances.