For the following situations, would you collect information using a sample or a population? Why? Statistics 201
Question:
For the following situations, would you collect information using a sample or a population? Why? Statistics 201 is a course taught at a university. Professor Rauch has taught nearly 1,500 students in the course over the past 5 years. You would like to know the average grade for the course. As part of a research project, you need to report the average profit as a percentage of revenue for the #1-ranked corporation in the Fortune 500 for each of the last 10 years. You are looking forward to graduation and your first job as a salesperson for one of five large pharmaceutical corporations. Planning for your interviews, you will need to know about each company’s mission, profitability, products, and markets. You are shopping for a new digital music player such as the Apple iPod. You would like to estimate the typical amount of memory for a digital music player.
Step by Step Answer:
Basic Statistics In Business And Economics
ISBN: 9781260597578
10th Edition
Authors: Douglas A. Lind, William G. Marchal, Samuel A. Wathen