A Market Researcher Is Interested in Determining the Average Income

question 19

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

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Definitions:

Revenue-Generating Uses

Strategies or activities implemented by a business to increase its income or profit.

Team Decision-Making

A collaborative process where a group of individuals work together to make a choice or solve a problem.

Creative Ideas

Novel and original concepts or solutions that arise from thinking differently about problems or challenges.

Greenfield Site

An undeveloped piece of land, never previously used for commercial development or construction, often considered for new projects.