Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 1, Problem 1SR

The Atlanta-based advertising firm Brandon and Associates asked a sample of 1,960 consumers to try a newly developed chicken dinner by Boston Market. Of the 1,960 sampled, 1,176 said they would purchase the dinner if it is marketed.

  1. (a) What could Brandon and Associates report to Boston Market regarding acceptance of the chicken dinner in the population?
  2. (b) Is this an example of descriptive statistics or inferential statistics? Explain.

a.

Expert Solution
Check Mark
To determine

Explain about that can be reported regarding the acceptance of the new chicken dinner.

Explanation of Solution

It is given that 1,176 out of the 1,960 sampled individuals expressed the wish to purchase the new chicken dinner, if marketed. In other words, these 1,176 individuals accepted it.

The percentage of individuals, who accepted it, is calculated bellow:

1,1761,960×100%=60%.

Thus, it can be reported that 60% of the sampled individuals accepted the new chicken dinner. Thus, about 60% of all their consumers are likely to accept it, if marketed.

b.

Expert Solution
Check Mark
To determine

Explain whether the given situation is an example of descriptive or inferential statistics.

Answer to Problem 1SR

The given situation is an example of inferential statistics.

Explanation of Solution

Descriptive statistics:

Descriptive statistics are a set of statistical tools that are used to organize, summarize, and present data in a comprehensible manner.

Inferential statistics:

Inferential statistics are a set of statistical tools that are used to estimate the properties of a population, based on the characteristics of a sample from that population.

In this case, a sample of 1,960 individuals is sampled to try the newly developed chicken dinner. Thus, the conclusion can be formed about the population of consumers.

Therefore, the given situation is an example of inferential statistics.

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