For Practice: (Review) Book Problems: 11-1.5, 1.7-1.9 (for extra practice, you c

Question

For Practice: (Review) Book Problems: 11-1.5, 1.7-1.9 (for extra practice, you could try to answer the questions in 2a below for each scenario Book Problems 8.1, 8.2, 8.3, 8.7 To Turn in: 1. Book Problem 8.6 2. The Monday after Thanksgiving has been nick-named Cyber Monday due to the large in- creases in online purchases that occur on this day. A market research firm surveys a random sample of 1000 online shoppers and finds the average amount spent by these online shoppers on Cyber Monday is $80. (a) Answer each of the following with a applicable. i. What is the population? ii. What is the parameter? ill. What is the sample? iv. What is the statistie? vil2 vil.X (b) If another market research firm took a random sample of 1000 individuals and calculated an average amount of online spending, which of parts (i.) -(vii.) will change?

Explanation / Answer

Solution:

a)

i)

The number of shoppers coming online and shopping on Cyber Monday is the population

ii)

The shoppers are the parameter

iii)

sample= 1000

iv)

the statistic is about shoppers shopping behavior on Cyber Monday

v)

n= 1000

vi)

mean= $80

vii)

to calculate standard deviation and mean we must know the list, which is the sample of 1000 people.

b)

vi, vii, and viii will change in this case

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