Problem1 A marketing company is interested in the proportion of people that will

Question

Problem1 A marketing company is interested in the proportion of people that will buy a particular product. Define the following in terms of the study. TERM A= Population B= Sample C=Parameter D=Statistic E-variable F = Data G None ELEMENTS of STUDY A marketing company Allpeople (maybeina certain geographic area, such as the United States) buy, not buy The proportion of the sample who wil buy the product X=the number of people who will buy it A group of the people The proportion of all people who will buy the product AO BO CO DO EO FO GO AO BO CO DO EO FO GO AO BO CO DO EO FO GO AO BO CO DO EO FO GO AO BO CO DO EO FO GO AO BO CO DO EO FO GO AO BO CO DO EO FO GO Problem2

Explanation / Answer

Hi, I have matched every part with the respective Elements of Study. Please let me know in case you haven't understood any part of it.

A - Population - has to include full set of people. So,
Answer: All people

B - Sample - has to include a part of population, not the entire
Answer: A group of people

C - Parameter - Should be any fraction of population
Answer: The proportion of all people who will buy the product

D - Statistic - The proportion of the sample who will biuy the product
Answer: The proportion of all sample who will buy the product

E - Variable - Is something which is measured for a subject.
Answer: X = The number of people who will buy it

F - Data - Has to be values - binary( event/nonevent or a flag 1 or 0 sorts) or a continuous variable
Answer: Buy, not buy

G - None - A marketing company

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