What Is the Last Step in the Process of Calculating

question 74

Multiple Choice

What is the last step in the process of calculating market size?

• A)competition research
• B)sanity review of calculations
• C)developing an advertising plan
• D)contacting early adopter customers directly

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Definitions:

Sampling Error

The difference between a sample statistic used to estimate a population parameter and the actual but unknown value of the parameter.

Population Parameter

A numerical characteristic of a population, such as mean or standard deviation, that is usually unknown.

Proportion

In statistics, a proportion refers to the fraction of the total that exhibits a certain trait or characteristic.

Season Ticket Holders

Individuals or entities that possess tickets granting them access to a series of events, typically sports games or concerts, for a particular season.