One of the products that Company W makes is snack foods. The research and development department of Company W has developed a new formula for one type of snack food that is cheaper to make than the current formula. They want to test the new formula with consumers. They want to see if consumers can tell the difference between the old and new formulas. You propose to conduct this test and analyze the results in line with WidgeCorp’s approach to gathering statistical data and use it to form business intelligence decisions. You first need to explain the process to senior management at Company W. You advocate using an unbiased sample of consumers in their test so that Company W is randomly selecting people based on the following: age; whether or not they have kids; where they live; how often they buy snack foods; and whether or not they already buy the current product.
Prepare a presentation that addresses the following:
Note: Give 2 examples of possible populations for this test. 5-8 slides with speaker notes