l kindly provide working 1. When the owner of a small business reviews her list
ID: 3327095 • Letter: L
Question
l
kindly provide working
1. When the owner of a small business reviews her list of contracts for 2011, she finds that 35% of the contracts were from clients she met at a large conference at the end of 2010. Answer the following questions about this situation. a. Was this measurement obtained by a sample or a census? What words in the description of the situation make you confident that your answer is correct? b. Should the owner have taken into account some measure of reliability associated with the value 35%?Explanation / Answer
a) This measurement was obtained by census (or we can acll population as well) and not from sample. Since we know that the population/census here is all the contracts the owner has received and so she went through the whole population of the contracts and came to a conclusion that from all these contracts 35% of them were from the people whom she met at a large conference.
b)Measure of Reliability in statistics is the overall consistency of a measure. A measure is said to have a high reliability if it produces similar results under consistent conditions. So here if the oner would have said that since past couple of years 35% of the contracts she would have received were from the people she met at a large conference would make more reliability on the claim that large conferences would result in good amount of contracts for the owner and so she should visit such conferences as from just one event you can't reach to a conclusion.
Hope this answer will make your concepts clear. Kindly upvote the ans if it has really helped you in understanding the problem. Good Luck!!
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.