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StatisticsSTATISTICS F/BUSINESS+ECONOMICS-TEXTA Bloomberg Businessweek North American subscriber study collected data from a sample of 2861 subscribers. Fifty-nine percent of the respondents indicated an annual income of $75,000 or more, and 50% reported having an American Express credit card. a. What is the population of interest in this study? b. Is annual income a categorical or quantitative variable? c. Is ownership of an American Express card a categorical or quantitative variable? d. Does this study involve cross-sectional or time series data? e. Describe any statistical inferences Bloomberg Businessweek might make on the basis of the survey.BuyFind*arrow_forward*

13th Edition

Anderson

Publisher: CENGAGE L

ISBN: 9781305881884

Chapter 1, Problem 19SE

Textbook Problem

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A *Bloomberg Businessweek* North American subscriber study collected data from a sample of 2861 subscribers. Fifty-nine percent of the respondents indicated an annual income of $75,000 or more, and 50% reported having an American Express credit card.

- a. What is the population of interest in this study?
- b. Is annual income a categorical or quantitative variable?
- c. Is ownership of an American Express card a categorical or quantitative variable?
- d. Does this study involve cross-sectional or time series data?
- e. Describe any statistical inferences
*Bloomberg Businessweek*might make on the basis of the survey.

Expert Solution

**a.**

To determine

Find the population of interest.

The given information represents 59% of the respondents have the annual income more than $75,000, and the 50% have the American express credit card. The total number of respondents is 2,861...

Expert Solution

**b.**

To determine

Identify whether the annual income is categorical or quantitative.

Expert Solution

**c.**

To determine

Identify whether the ownership of an America express card is categorical or quantitative variable.

Expert Solution

**d.**

To determine

Identify whether the study involves cross-sectional data or time-series data.

Expert Solution

**e.**

To determine

Explain the statistical inferences.

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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