Questions: Please type inThe Gallup organization produced a surveyabout how much

Question

Questions: Please type inThe Gallup organization produced a surveyabout how much money people expected to spend on holiday presentsin 2003. The sample mean of the 82 responses was 857dollars.

a) What is the population?


b) What is the variable measured? Is it categorical orquantitative?


c) Is $857 a parameter or a statistic? Explain. What symbolwould represent it?


d) Identify the parameter of interest in this study. Whatsymbol would represent it?


e) Do you know the value of the parameter in this study? It is morelikely to be close to $857 than far from it?


f) Can we use the normal model? Why or why not?

Explanation / Answer

a) What is the population? ALL HOLIDAY SHOPPERS IN 2003 b) What is the variable measured? Is it categorical orquantitative? AMOUNT EACH PERSON PLANS TO SPEND -- QUANTITATIVE c) Is $857 a parameter or a statistic? Explain. What symbolwould represent it? STATISTIC -- IT COMES FROM THE SAMPLE -- x d) Identify the parameter of interest in this study. Whatsymbol would represent it? MEAN AMOUNT FOR ALL SHOPPERS -- e) Do you know the value of the parameter in this study? It is morelikely to be close to $857 than far from it? NO. MORE LIKELY TO BE CLOSE. f) Can we use the normal model? Why or why not? NO. WE ALSO NEED TO KNOW THE SAMPLE STANDARD DEVIATION.

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