Consider two products, A and B, both of which have the same purchase probability

sputavanomr 2021-11-21 Answered
Consider two products, A and B, both of which have the same purchase probability.
Product A has a population size of 1000 and a 50 percent awareness probability. Product B has a population size of 10,000 and a 5 percent awareness probability. Which product do you expect to sell more?
a. Product A
b. Product B

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Expert Answer

Fesion
Answered 2021-11-22 Author has 1521 answers
Given: Two products A and B, both of which have the same purchase probability.
As Product A has a population size of 1000 and a 50 percent awareness probability, therefore, total awareness of product A is:
\(\displaystyle{50}\%\) off 1000
\(\displaystyle={\frac{{{50}}}{{{100}}}}\times{1000}\)
\(\displaystyle={\frac{{{1}}}{{{2}}}}\times{1000}\)
\(\displaystyle={500}\)
Therefore, 500 people are aware of product A.
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hotcoal3z
Answered 2021-11-23 Author has 1415 answers
As Product B has a population size of 10,000 and a 5 percent awareness probability, therefore, total awareness of product B is:
\(\displaystyle{5}\%\) off 10000
\(\displaystyle={\frac{{{5}}}{{{100}}}}\times{10000}\)
\(\displaystyle={\frac{{{1}}}{{{20}}}}\times{10000}\)
\(\displaystyle={500}\)
Therefore, 500 people are aware of product B.
As both the products have the same purchase probability and same awareness thus they are expected to sell the same amount.
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