These are the subjects that we've studied:

Introduction to Business Statistics, Data Analytics and Data Science Data Collection: The Right Procedure

Population, Samples and Sampling Technique

Data Types, Data Measurement Level and Variables

Descriptive Statistics: Visualization & Numerical Description

Estimation

Hypothesis Testing

Linear Regression and Correlation Analysis

Multiple Regression Analysis and Model Building

Question:

MySnackCrunch, a major food company, is thinking of introducing a new product line into a market area. It is important to know the age characteristics of the people in the market area.

If the executives wish to calculate a number that would characterise the centre of the age data, what statistical technique would you suggest?

Explain the answer.

The executive need to know the percentage of people in the market area that are senior citizens. Name the basic category of statistical procedure they would use to determine this information.

Describe hypothesis which the executives might wish to test concerning the percentage of senior citizens in the market area.