Question

Your marketing agency wants to send a survey to 500 people. You desire the respondents to represent the full range of incomes under $100,000 per year. You are authorized to purchase 500 names chosen at random from 1 of the following 3 databases. Which database is most likely to fit your needs, and why? Income distribution Database 1 Database 2 Database 3 Mean $25,625 $49,205 $88,340 Standard deviation $15,990 $25,485 $35,870 Database 1, because its mean is farthest from the limit of $100,000 Database 1, because its standard deviation is smallest and so the data are most focused Database 2, because its mean is centered between $0 and $100,000 Database 3, because its mean is closest to $100,000 Database 3, because its standard deviation is largest

Answer 1

Database 2 is most likely to fit needs as it has maximum % of people lying in Range and mean is centered

Answer 2

Database 2, because its mean is centered between $0 and $100,000

Explanation:

You desire the respondents to represent the full range of incomes under $100,000 per year. Then, database 2 is the one best fit this criteria, because is centered between $0 and $100,000, so there are more chances to select people from here which satisfy the desired criteria. In database 1 there are few people with salaries near $100,000, and in database 3 there are few people with salaries near $0