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Statistic - Theory Week 2 & 3 Homework
Statistic - Theory Week 2 & 3 Homework
Statistic - Theory Week 2 & 3 Homework
a. Ordered preference that investors have for different investment funds for retirement purpose
[qualitative]
d. Ranking of computer stores with respect to their competitors, based on sales [qualitative]
An operations manager at a semiconductor company is interested in the satisfaction level of the firms that
buy computer chips from the company. Approximately 1,000 firms buy chips from this company. The
manager has developed a satisfaction scale from 1 to 100 for the respondents to mark their level of
satisfaction with the company’s products. This scale is to be included on a survey to a sample of 100
firms that buy from this firm.
a. What is the population of interest? [Approximately 1000 firms who bought chip from the
company]
c. What is the parameter of the population that is of interest? [ To denote the average level of
satisfaction of all buyers from e company]
d. What is the statistic corresponding to the parameter requested in part (c)? [ A satisfaction level of
100 companies out of all companies]
Determine whether each of the following groups of people or objects represents a population or a sample.
a. a list of 500 employees of General Motors (Hint: could be either? Explain) [ Population-there are
500 employees in e company] [ Sample-randomly picked 500 employees out of all]
b. 40 students who were randomly stopped and questioned on university campus [sample]
c. 200 people selected randomly from telephone book to receive marketing questionnaire [sample]
(a) What do you achieve by tabulating data in the form of frequency distribution? [ You can easily spot
the most no.of people earning in a week.]
(c) What proportion of multiple job holders were making $493 or more per week? [1297/6696]