You are curious about the accuracy of the estimates that the widget store owner gave you....

You are curious about the accuracy of the estimates that the widget store owner gave you. If you wanted to take a random sample of daily customer arrivals, from which of the following is the population you should sample?

1 балл

The number of arrivals each day for this widget store and the competing widget store down the street.

The number of arrivals each day for all days this specific widget store has been open.

The number of arrivals each day for this specific widget over the past month.

A random, representative sample of the number of arrivals each day to this specific widget store.

Solutions

Expert Solution

Correct option:

The correct answer is: The number of arrivals each day for all days this specific widget store has been open.

Explanation:

In random sampling, each individual of the group is chosen entirely by chance and each member of the population has an equal chance (or probability) of being selected. To create a random sample, one has to ensure that the sample space consists of equally likely data sets.

In the given case, equally likely events are showcased by the number of arrivals each day for the specified store. However, we should only consider the number of arrivals on the days the store has been open (number of arrivals on closed days would be zero and would act as redundant data within the sample space).

The third option, i.e. the number of arrivals each day for all days this specific widget store has been open, is the only option that specifies 'for all days the store has been open'. Hence, it is the only correct option amongst the given options.

............................................

Hope this helps!

orchestra answered 1 year ago

Next > < Previous

Related Solutions

A large department store is curious about what sections of the store make the most sales....

A large department store is curious about what sections of the store make the most sales. The manager has data from ten years prior that show 30% of sales come from Clothing, 25% Home Appliances, 18% Housewares, 13% Cosmetics, 12% Jewelry, and 2% Other. In a random sample of 550 current sales, 188 came from Clothing, 153 Home Appliances, 83 Housewares, 54 Cosmetics, 61 Jewelry, and 11 Other. At α=0.10, can the manager conclude that the distribution of sales among...

Probability expected value exercises questions: 1. The owner of an antique store estimates that there is...

Probability expected value exercises questions: 1. The owner of an antique store estimates that there is a 50% chance she will make $3000 when she sells an antique cabinet, a 30% chance she will make $1550 when she sells the cabinet and a 20% chance she will break even when she sells it. What is the expected amount she will make when she sells the cabinet? 2. Three different people are selected at random and each given one gift card....

You are a grocery store manager. The owner has a lot to say about how your run the store. The owner wants the grocery store to start selling rotisserie chickens.

You are a grocery store manager. The owner has a lot to say about how your run the store. The owner wants the grocery store to start selling rotisserie chickens. This is a new product. You know that you can buy chickens from a local farmer for $2/chicken and it would take you an additional $0.20/chicken to cook it. The grocery store currently pays $4,000/month in mortgage (unrelated to the chickens) and would spend $300 advertising the new rotisserie chickens....

a jewelry store sells 120 diamond bracelets per month at 1300 each. the owner estimates that...

a jewelry store sells 120 diamond bracelets per month at 1300 each. the owner estimates that for each 130 increase in price they will sell 5 fewer diamond bracelets per month. find the price per diamond bracelet that will maximize revenue.

What are you curious about regarding infectious diseases or environmental health and safety?

An electronics store has 4 branches in a large city. They are curious if sales in...

An electronics store has 4 branches in a large city. They are curious if sales in any particular department are different depending on location. They take a random sample of purchases throughout the 4 branches – the results are recorded below. Run an independence test for the data below at the 0.05 level of significance. Appliances TV Computers Cameras Cell Phones Branch 1 54 28 61 24 81 Branch 2 44 21 55 23 92 Branch 3 49 18 49...

you are advertising the owner of today convenience store, a new, franchised 24 hrs open store....

you are advertising the owner of today convenience store, a new, franchised 24 hrs open store. today she also sell daily necessities fast food and snack to cuetomers for a price that is on avarage slightly higher than other stores . what conpetitive strategies could today could today convenience store excert? which one will have defficulty excercising?

2. Your Aunt is thinking about opening a hardware store. She estimates that it would cost...

2. Your Aunt is thinking about opening a hardware store. She estimates that it would cost 500k per year to rent the location and buy the stock. In addition, she would have to quit her 50k/year job as an accountant. Define Opportunity cost. What is your aunt's opportunity cost of running the hardware store for a year? If your aunt thinks she can sell 510k worth of merchandise in a year, should she open the store? Explain. 3. You are...

Glutamate synthetase is central to nitrate assimilation. You, as a grad student, are curious about how...

Glutamate synthetase is central to nitrate assimilation. You, as a grad student, are curious about how other nutrients might regulate this enzyme; and specifically, you would like to study how the gene encoding this enzyme is regulated by the presences of phosphate in the environment. Describe the design of your experiment(s) that will look at the regulation of the glutamate synthetase gene by phosphate. Remember to include controls in your description.

You are curious about the role of graduate status on work-life balance in Tech students. In...

You are curious about the role of graduate status on work-life balance in Tech students. In a sample of 100 undergraduate students, 37 reported having trouble balancing school and work. In a separate sample of 75 graduate students, 50 had trouble with this balance. Test the null hypothesis that undergraduate or graduate students are equally likely to have trouble with work-life balance (alpha=0.05). For independent sample t-tests: mean values for each sample, the variances for each sample, estimated standard error...

Subjects