Question

he Lelt0:28:13 Ronald Rosser: Attempt 1 Previous Page Next Page ed Page 4 of 4 Note: It is recommended that you save your response as you complete each question. Question 4 (25 points) A Bloomberg BusinessWeek North America subscriber study collected data from a sample of 2,861 subscribers. Fifty-nine percent of the respondents indicated arn annual income of at least $75,000, and 50% reported having an American Express credit card 1. What is the population of interest in this study? Explain. 2. Is annual income categorical or quantitative variable? Explain. 3. Is ownership of American Express card a categorical or quantitative variable? Explain. 4. Does this study involve cross-sectional or time series data? Explain. 5. Describe any statistical inference Bloomberg BusinessWeek might make on the basis of the survey?

Answer 1

(a) In this study, the population of interest is the subscribers of Bloomberg BusinessWeek North America, because the sample of 2861 people has been collected from their subscriber base.

(b) Annual income is a quantitative variable, because the variable is collecting the annual income figure of a subscriber.

(c) Ownership of an American Express card is a categorical variables because the values of this variables can be either Yes (= 1) or No (= 0). It is just recording binary responses and not any quantity.

(d) This study involves cross-sectional data because the sample data was collected during a single time point and not over a period of time.

(e) On the basis of this survey, Bloomberg BusinessWeek may conclude that majority of their subscribers are from highly affluent backgrounds since they have an annual income of at least $75000 and also half of them own an American Express credit card.