CFA Practice Question

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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.

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

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 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.
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