A Simple Random Sample of 5 Observations from a Population $$\begin{array} { l l l l l } 12 & 18 & 19 & 20 & 21\end{array}$$

question 21

Multiple Choice

A simple random sample of 5 observations from a population containing 400 elements was taken, and the following values were obtained. $$\begin{array} { l l l l l } 12 & 18 & 19 & 20 & 21\end{array}$$ A point estimate of the population mean is _____.

• A) 5
• B) 18
• C) 19
• D) 20

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Definitions:

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives, typically involving some form of problem-solving or judgment.

Evoked Sets

The group of brands or products a consumer considers when making a purchase decision.

Universal Sets

The complete collection of all possible outcomes or elements in a particular context, including all objects of interest.

Retrieval Sets

In consumer behavior, the subset of brands or products that a consumer can easily remember and consider when making a purchase decision.