Market Research

A manufacturer would like to survey users to determine the demand potential for a new power press. The new press has a capacity of 500 tons and costs $225,000. It is used for forming products from light- and heavyweight steel and can be used by automobile, construction equipment, and major appliance manufacturers.

a. Identify the population and sampling frame that could be used.

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b. Describe how a simple random sample can be drawn using the identified sampling frame.

c. Could a stratified sample be used? If so, how?

d. Could a cluster sample be used? If so, how?

e. Which sampling technique would you recommend? Why?

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