Twenty One (21) Customers Out of a Simple Random Sample

question 106

True/False

Twenty one (21) customers out of a simple random sample of 50 said that they came to the grocery store within one month after getting a card from the company. Based on the data, the marketing manager thinks that the number of total customers who would come in to the grocery store within one month is 4,200 because 10,000 cards were mailed.

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Definitions:

Corporate Profits Tax

A tax levied on the earnings of corporations, usually calculated as a percentage of their net profits.

Individual Income Tax Returns

Documents filed by individuals to report income, claim deductions, and determine the amount of tax owed to or refundable by the government.

Corporate Profits Tax

A tax imposed on the net income of a corporation, calculated after operational and capital expenses have been deducted.

Corporate Sector

Refers to the segment of an economy comprised of private and publicly traded corporations, involved in commercial and industrial activities.