Random Samples of Size 17 Are Taken from a Population

question 30

Multiple Choice

Random samples of size 17 are taken from a population that has 200 elements, a mean of 36, and a standard deviation of 8. Which of the following best describes the form of the sampling distribution of the sample mean for this situation?

• A) Approximately normal because the sample size is small relative to the population size
• B) Approximately normal because of the central limit theorem
• C) Exactly normal
• D) None of these alternatives is correct.

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Definitions:

Segmenting Markets

The process of dividing a target market into smaller, more defined categories based on characteristics such as demographics, needs, priorities, common interests, and other psychographic or behavioral criteria.

Global Segmentation

Segmentation that identifies a group of consumers with common needs and wants that spans the entire globe.

Market Segments

The groups of consumers who have shared characteristics and similar product needs.

VALS Framework

A psychographic tool that classifies consumers into eight categories based on their responses to a questionnaire, used for market segmentation.