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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.

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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
BuyFind

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

Solutions

Chapter
Section
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.

  1. a. What is the population of interest in this study?
  2. b. Is annual income a categorical or quantitative variable?
  3. c. Is ownership of an American Express card a categorical or quantitative variable?
  4. d. Does this study involve cross-sectional or time series data?
  5. 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.

Explanation of Solution

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.

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