Suppose That You Have Begun to Gather Some Demographic Data

question 33

Multiple Choice

Suppose that you have begun to gather some demographic data in order to project the potential sales of a new development project. The developer hopes to be able to target the following household types who fall in the age 55 and up housing market: Seniors - Employed Part Time; Seniors - Retired / Not in Assisted Living. Utilizing the following population information, determine the core market share that the development project yearns to target with this project. Total Senior Households: 25,000; Seniors - Employed Full Time: 8,000; Seniors - Employed Part Time: 2,500; Seniors - Retired / Not in Assisted Living: 12,000; Seniors - Retired / In Assisted Living: 2,500

• A) 58.0%
• B) 80.0%
• C) 90.0%
• D) 100.0%

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Definitions:

Median

The middle value in a data set when it's arranged in ascending or descending order.

Degrees of Freedom

The number of independent values or quantities that can vary in an analysis without breaking any constraints.

Statistical Procedures

A set of mathematical techniques used for analyzing numerical data, including summarizing and interpreting the data.

Quantitative Data

Information that can be measured and written down with numbers, often used in statistical analysis to quantify behaviors, attitudes, and other defined variables.