Statistics Project, Statistics

QN
For each of the following, determine whether the group is a sample or a population.
a. The participants in a study of a new cholesterol drug.
b. The drivers who received a speeding ticket in Kansas City last month.
c. Those on welfare in Cook County (Chicago), Illinois.
d. The 30 stocks reported as a part of the Dow Jones Industrial Average.

For the following questions, would you collect information using a sample or a population?
Why?
a. Statistics 201 is a course taught at a university. Professor A. Verage has taught nearly 1,500 students in the course over the past 5 years. You would like to know the average grade for the course.
b. As part of a research project, you need to report the average profitability of the number one corporation in the Fortune 500 for the past 10 years.
c. You are looking forward to graduation and your first job as a salesperson for one of five large pharmaceutical corporations. Planning for your interviews, you will need to know about each company’s mission, profitability, products, and markets.
d. You are shopping for a new MP3 music player such as the Apple iPod. The manufacturers advertise the number of music tracks that can be stored in the memory. Usually, the advertisers assume relatively short, popular music to estimate the number of tracks that can be stored. You, however, like Broadway musical tunes and they are much longer. You would like to estimate how many Broadway tunes will fit on your MP3 player.

Utilize the concepts of sample and population to describe how a presidential election is unlike an “exit” poll of the electorate.

 
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