The Coca cola Company has 366,000 stockholders and a poll is conducted by randomly selecting 30 stockholders from each 50 states. The number of shares held by each sampled stockholder is recorded.
a. Are the values obtained discrete or continuous?
b. Identify the level of measurement (nominal, ordinal, interval, ratio) for the sample data.
c. Which type of sampling (random, systematic, convenience, stratified, cluster) is being used?
d. If the average (mean) number of shares is calculated, is the result a statistic or a parameter?
e. If you were the CEO of the Coca Cola COmpany, what characteristic of the data set would you consider to be extremely important?
f. What is wrong with gauging stockholder views by mailing a questionnaire that stockholders could complete and mail back?
THANKS IN ADVANCE!