In Scenario 11-2 Above,George Should Have an Estimate of How

question 94

Multiple Choice

In Scenario 11-2 above,George should have an estimate of how many customers his business will service in the coming year.This would be known as a

• A) Sales analysis
• B) Service analysis
• C) Sales forecast
• D) Service estimate

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Definitions:

Population Standard Error

A measure of the dispersion of sample means around the population mean.

Confidence Interval

Values range, derived from the examination of a sample, expected to enfold the value of a concealed population parameter.

Mean

The average of a set of numbers, calculated by summing the values and dividing by the count of numbers.

Variability

Indicates the range and dispersion of individual scores from the mean in a dataset.