Answer:
<u>Part A:</u> The population are the American adult citizens, excluding the ones from Alaska and Hawaii. The population is the people which the sample is trying to represent, as a hole.
The sample is a portion of this population, and in this case is represented by a randomly selected amount of people whose response to the interview has been selected.
<u>Part B:</u> The sample here has been selected in two steps. The <u>first</u> step is the one that we must pay attention to: the numbered list of one million responses from around the US (excluding Alaska and Hawaii). Because these responses were obtained by an online survey, the sample looks like a convenience sampling, as it depends on the availability and willingness from participants to take part of the study (is not compulsory for everyone, so not everyone is going to response, then there are people that is not going to be represented by). The <u>second</u> step is the random selection of a part of the previous responses. This last part will ensure that, the individuals that took part of the group that was interviewed, are well represented in the results.
<u>Part C:</u> As it was mentioned, there is a selection bias, because the information from the sample comes from a specific group of people that has certain features that may not represent all American adults citizens. For <u>example, the opinion of those people who do not use internet</u>, will not be considered (and they may be a large number of persons). This situations weaken the conclusions obtained in the study, as they are not representative of the hole population.
Use compound interest formula F=P(1+i)^n twice, one for each deposit and sum the two results.
For the P=$40,000 deposit,
i=10%/2=5% (semi-annual)
number of periods (6 months), n = 6*2 = 12
Future value (at end of year 6),
F = P(1+i)^n = 40,000(1+0.05)^12 = $71834.253
For the P=20000, deposited at the START of the fourth year, which is the same as the end of the third year.
i=5% (semi-annual
n=2*(6-3), n = 6
Future value (at end of year 6)
F=P(1+i)^n = 20000(1+0.05)^6 = 26801.913
Total amount after 6 years
= 71834.253 + 26801.913
=98636.17 (to the nearest cent.)
In this case probability is the likelihood that from 264 customers one customer wins free gallon of milk with his food purchase, or in other words the probability that one customer receives a star on his receipt.
Probability is the ratio of the number of favorable outcomes to the total number of all possible events. From 264 customers, 219 have not received a star. The opposite is to receive a star and that is the situation: (1-219)/264=0.17,
