Market Research Quiz

The Bloom Biscuit Company is planning a marketing strategy for the upcoming year. They plan on doing a survey to see how many residents in their state bake. Marketing assistants randomly call homes during their 9:00am–5:00pm work shift and find out that 79% of people they speak to bake. Do you think this is an overestimate, underestimate, or good approximation of the actual population percent of people who bake? Explain.

Tags

CCSS.7.SP.A.1

CCSS.HSS.IC.A.1

What must a corporation do before they can allocate money to mass-produce a new invention?

• Conduct a survey of the entire population

• Give millions of people a sample of the product

• Make inferences about the public's spending habits

• Ask every individual for their opinion

What term is used to describe the specific group a researcher is looking to study?

• Sample

• Focus group

• Population

• Inferential statistics

Tags

CCSS.7.SP.A.1

CCSS.HSS.IC.A.1

What is a sample in the context of market research?

• A specific group a researcher is looking to study

• A subset of the population that is all made of the same type of object or people

• The entire group of people or objects a researcher is interested in

• The process of collecting data from every member of the population

What is inferential statistics?

• The study of specific groups within a population

• The process of asking every individual for their opinion

• The situation in which researchers use data from a sample to make a generalization about an entire population

• The method of collecting data from focus groups only

Tags

CCSS.HSS.IC.B.3