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Basic Question 1 of 28
The owner of a large pet store chain in the United States wants to open a store in a new city. He is interested in the number of households in this city with pets. The owner randomly surveys 800 of the city's households, which shows that 82% of the 800 households have pets.
B. the number of pet stores in the city; the number of pet stores in the United States
C. responses of the 800 surveyed households; responses of all households in the city
What is the sample, and what is the population of interest?
A. 82% of the 800 surveyed households; 82% of all U.S. households
B. the number of pet stores in the city; the number of pet stores in the United States
C. responses of the 800 surveyed households; responses of all households in the city
User Contributed Comments 7
| User | Comment |
|---|---|
| childpsych1 | Here the population and the sample are of the same size - that is all the 800 households have been surveyed therefore sample=population=800 |
| cp24 | It looks like the 800 is just a random sample of all the households in the city. Therefore, sample < population. The pet store owner did not survey all the households. |
| woori | vary easy, do not miss |
| fanfanli | The sample = The number of people to respond to the survery. The population = The total number of people in households |
| yesname | Well..I think the total number of the houses in the city is population and the number of houses surveyed..regardless of their responses..is sample. So 800 is sample. |
| gazza77 | Sample = number of housholds responding to the survey Population = Number of households in the city |
| sriera | Gazza77 is the clearest. |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
calculate and interpret measures of central tendency;
evaluate alternative definitions of mean to address an investment problem;
CFA® 2024 Level I Curriculum, Volume 1, Module 2.