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Basic Question 2 of 30
The owner of a large pet store chain in the United States wants to open a store in a new city. He is interested in the number of households in this city with pets. The owner randomly surveys 800 of the city's households, which shows that 82% of the 800 households have pets.
B. the number of pet stores in the city; the number of pet stores in the United States
C. responses of the 800 surveyed households; responses of all households in the city
What is the sample, and what is the population of interest?
A. 82% of the 800 surveyed households; 82% of all U.S. households
B. the number of pet stores in the city; the number of pet stores in the United States
C. responses of the 800 surveyed households; responses of all households in the city
User Contributed Comments 7
| User | Comment |
|---|---|
| childpsych1 | Here the population and the sample are of the same size - that is all the 800 households have been surveyed therefore sample=population=800 |
| cp24 | It looks like the 800 is just a random sample of all the households in the city. Therefore, sample < population. The pet store owner did not survey all the households. |
| woori | vary easy, do not miss |
| fanfanli | The sample = The number of people to respond to the survery. The population = The total number of people in households |
| yesname | Well..I think the total number of the houses in the city is population and the number of houses surveyed..regardless of their responses..is sample. So 800 is sample. |
| gazza77 | Sample = number of housholds responding to the survey Population = Number of households in the city |
| sriera | Gazza77 is the clearest. |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
compare and contrast simple random, stratified random, cluster, convenience, and judgmental sampling and their implications for sampling error in an investment problem
CFA® 2025 Level I Curriculum, Volume 1, Module 7.