Scenario 4-2

question 73

Multiple Choice

Scenario 4-2. Petro is considering opening a new small business called Petro's Playground. It will be an inside playground with climbing equipment, jungle gym, pit of balls, slides, and swings. Petro's closest competition has been in business for four years and provides quality service along with the fun of the playground. The competition is located four miles away in a large city and Petro is hoping to acquire some of his competition's market share by providing lower prices and more diversity in playground equipment.
-In Scenario 4-2, the target market for Petro's Playground would be ______.

• A) senior citizens
• B) all children between the ages of 0 and 4
• C) middle-aged adults
• D) children between the ages of 2 and 12

Apply critical thinking to solve problems related to the organization of comparative and contrastive information.

Understand the concepts of margin of error, confidence interval, and sample size in the context of statistical polling and inference.

Calculate confidence intervals for proportions and means from given data.

Determine the adequacy of sample sizes for specific margins of error and confidence levels.