The owner of a car dealership planned to develop strategies to increase sales. H

Question

The owner of a car dealership planned to develop strategies to increase sales. He hopped to learn the reasons why many people who visit this car lot do not eventually buy a car from him. For one month he asked his sales staff to keep a list of the names and addresses of everyone who came in to test drive a car. At the end of the month by sent surveys to the people who did not buy the car, asking them why. About one third of them returned the survey, with 44% of those indicating that they found a lower price elsewhere. For this situation, is the following statement True or False? Explain your answer. The population of interest is all potential car buyers. The owner of a car dealership planned to develop strategies to increase sales. He hopped to learn the reasons why many people who visit his car lot do not eventually buy a car from him. For one month he asked his sales staff to keep a list of the names and addresses of everyone who came in to test drive a car. At the end of the month he sent surveys to the people who did not buy the car, asking them why. About one third of them returned the survey, with 44% of those indicating that they found a lower price elsewhere. For this situation, is the following statement True or False? Explain your answer. Because it comes from a sample 44% is a parameter, not a statistic. Classify the variable as categorical, quantitative, or identifier. If the variable is quantitative, identify the units. Number of people on jury Verdict of the jury Monthly electric bill in dollars Political affiliation Waiting time at a bus stop in minutes Eye color Area Code Fedex tracking number

Explanation / Answer

7) False (64% is a statistic as it is from a sample)

8) False (The population of interest is the the potential of car buyers who visited the car dealership and did not buy a car)

9) False (a sample will give only the statistic, not the parameter)

10) a - quantitative, unit - numbers

b - categorical

c - quantitative, unit - dollars

d - categorical

e - quantitative, unit - minutes

f - categorical

g - identifier

h - identifier

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