Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
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Question
Chapter 5.3, Problem 13E
To determine
Stratified a random sample:
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You own the only pharmacy in the small town of Jackson City, which has 40,000 residents. You would like to get a sense of what the local demand is for seasonal allergy medicine so you can determine how many packages to keep in stock and what price to charge. You conduct a survey of four residents of Jackson City, asking them about the quantity of allergy medicine they would buy each allergy season at various prices. Their responses are shown in the accompanying table. Estimate and graph the demand for the entire town of Jackson City.
Price
Lee
June
Carlotta
Eric
$8
8
5
6
9
$10
6
4
5
5
$12
4
3
4
3
$14
2
2
2
1
$18
0
1
1
0
I submitted this question earlier and I understand how to add up the market demand for each individual but I don't understand how to estimate the entire market demand for Jackson city which has 40,000 residents including the individuals listed in the chart. If you could please answer this specifically I would appreciate it.
Question One
a) The University of the East Europe is interested in the overall performance of its students
in the academic year 2020/2021. There were 1460 students registered for this academic
year. The University decides to select a sample of 150 students from each of the 5
faculties- Science, Medicine, Law, Social Science and Humanities in proportion to the
number of students in each faculty.
Identify the population of interest for this scenario.
ii.
i.
Identify the sampling technique used by the researcher.
State one advantage and one disadvantage of the sampling technique described in the
given scenario.
If the medical faculty has 584 students registered, calculate how many medical
students would be part of the sample of 150.
iii.
iv.
A political pollster wants to ensure that their poll on attitudes toward separation of church and state gets responses from all major religious groups. What kind of sampling method should be used?
Chapter 5 Solutions
Statistics for Management and Economics (Book Only)
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