- CFA Exams
- CFA Exam: Level I 2021
- Study Session 2. Quantitative Methods (1)
- Reading 7. Statistical Concepts and Market Returns
- Subject 1. The Nature of Statistics

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**CFA Practice Question**

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

Correct Answer: C

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**User Contributed Comments**
7

User |
Comment |
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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. |