A Market Researcher Is Interested in Determining the Average Income

question 62

Multiple Choice

A market researcher is interested in determining the average income for families in York Region, Ontario. To accomplish this, he takes a random sample of 200 families from the region and uses the data gathered to estimate the average income for families of the entire region. This process is an example of _______.

• A) Descriptive statistics
• B) Inferential statistics
• C) Mutually exclusive statistics
• D) Qualitative
• E) parametric methods

---

Definitions:

Bottom 20%

The bottom 20% typically refers to the lowest quintile in a distribution, such as income levels, often used to describe those with the lowest earnings.

Families

Groups of individuals related by blood, marriage, or adoption who live together and share economic, emotional, and social ties.

Income Inequality

The uneven allocation of income among individuals or households within an economic system.

Distribution Of Income

The way in which total income is shared amongst the population or different groups within a society.