A Consumer Research Group Is Interested in How Older Drivers

question 12

Multiple Choice

A consumer research group is interested in how older drivers view hybrid cars.Specifically, they wish to assess the percentage of drivers in the U.S.50 years of age or older who intend
To purchase a hybrid in the next two years.They selected a systematic sample from a list of
AARP (American Association of Retired Persons) members.Based on this sample, they
Estimated the percentage to be 17%.Which of the following statements about this study is
True?

• A)17% of all U.S.drivers 50 years of age or older intend to purchase a hybrid in the next two years.
• B)17% is a parameter.
• C)17% is a statistic.
• D)Both A and B
• E)Both A and C

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Definitions:

Probability

A measure of the likelihood that an event will occur, often quantified as a number between 0 and 1.

Relative Frequency

The ratio of the number of times a value occurs compared to the total number of observations.

New Supermarket

A recently established retail store that specializes in selling a wide range of foods and household products.

New York Market

Refers to the financial markets based in New York City, which include the New York Stock Exchange among others, and are central to global finance.