In a Sample of 800 Students in a University, 160

question 56

Multiple Choice

In a sample of 800 students in a university, 160, or 20%, are Business majors. Based on the above information, the school's paper reported that "20% of all the students at the university are Business majors." This report is an example of

• A)a sample
• B)a population
• C)statistical inference
• D)descriptive statistics

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Definitions:

Specialty Product

Products that are highly differentiated and unique, and for which consumers will make a special effort to seek out and purchase.

Brand Status

The perceived prestige and position of a brand in the minds of consumers, often associated with quality, luxury, or exclusivity.

Consumer Product

Goods or services that are purchased by individuals for personal or household use, as opposed to products bought for business purposes.

Unsought Product

Products that consumers typically do not think of buying until they need them or until they are brought to their attention through advertising.