Question

Georgia Preserves is test marketing a new peach-orange marmalade. The following responses were collected from 500 people who were offered samples of the new product at a shopping mall. If the company does not issue a discount coupon, what percent of respondents are most likely to buy this product between the present time and next year?

"I love it! Where can I buy it today?" = 127 responses

"I'll probably try it over the next year, sometime." = 162 responses

"I'll probably try it, but only if I have a discount coupon." = 153 responses

"I don't like this marmalade." = 58 responses

Answer 1

Out of 500 respondents, 289 have shown intent to buy the new peach-orange marmalade without a discount coupon. Using the formula for percentage, we find that 57.8% of respondents are likely to make a purchase.

Step-by-step explanation:

To determine the percentage of respondents most likely to buy the new peach-orange marmalade without a discount coupon, we only consider the first two groups of responses, as those show intent to purchase regardless of a coupon being offered.

The sum of responses from these two groups is 127 ("I love it! Where can I buy it today?") plus 162 ("I'll probably try it over the next year, sometime"), which equals 289.

To find the percentage, we use the formula:

Percentage = (Number of interested respondents / Total number of respondents) × 100%

Percentage = (289 / 500) × 100% = 57.8%

Out of the 500 respondents, 57.8% are most likely to buy the marmalade without a coupon between now and next year. The explanation uses the given survey results and a basic formula to calculate the percentage.