Question

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.What is the population of interest in this study?

2.Is annual income a qualitative or quantitative variable?

3.Is ownership of an American Express card a qualitative or quantitative variable?

4.Does this study involve cross-sectional or time series data?

5. Determine whether the following two statistical inferences may be made based on the sample data collected.

An estimated 59% of the population of subscribers has an annual income of $75,000 or more.

An estimated 60% of the population of subscribers has an American Express credit card.

Answer 1

Bloomberg Business week NorthAmerica Subscribers

; Quantitative ; Qualitative ; No ; Yes ; No

Explanation:

Sample size = 2861

Percentage respondent with annual income ≥ 75000 = 59%

Percentage having an American Express credit card

1.What is the population of interest in this study?

Bloomberg business week NorthAmerica Subscribers

2. Quantitative

Annual income is quantitative because it is numeric, that is repress red by numbers which can be used to perform sensible numerical computation such as additions, mean, multiplication and so on.

3.Qualitative

No ; ownership of an American express card is a Qualitative variable as it will take responses as (yes or no), even when represented or coded as numbers, it will make no numerical sense to peform mathematical calculations with it.

4.

No ; time series data has to do with data collected with respect to a particular month, year or seasonal data.

5. Determine whether the following two statistical inferences may be made based on the sample data collected.

An estimated 59% of the population of subscribers has an annual income of $75,000 or more.

Yes ;

An estimated 60% of the population of subscribers has an American Express credit card.

No ; the research says 50% and not 60%