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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.
- (a) What could Brandon and Associates report to Boston Market regarding acceptance of the chicken dinner in the population?
- (b) Is this an example of
descriptive statistics orinferential statistics ? Explain.
a.
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:
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.
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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Chapter 1 Solutions
Statistical Techniques in Business and Economics
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