Mathematics, 19.02.2020 03:49 ltorline123
Your marketing agency wants to send a survey to 500 people. You desire the respondents to represent the full range of incomes under $100,000 per year. You are authorized to purchase 500 names chosen at random from 1 of the following 3 databases. Which database is most likely to fit your needs, and why?
Income distribution
Database 1 Database 2 Database 3
Mean
$25,625 $49,205 $88,340
Standard deviation
$15,990 $25,485 $35,870
Database 1, because its mean is farthest from the limit of $100,000
Database 1, because its standard deviation is smallest and so the data are most focused
Database 2, because its mean is centered between $0 and $100,000
Database 3, because its mean is closest to $100,000
Database 3, because its standard deviation is largest
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