A nationwide survey of 1000 adults found that 50% of respondents favored a plan to break up the 12 megabanks, which then contr
olled about 69% of the banking industry. Complete parts (a) and (b) below. a. Identify the population and sample for this study.
b. Is the percentage provided a descriptive statistic or an inferential statistic? Explain your answer.
a. The population for the study is a total of 1000 adults, so the 50% that favored the plan made up a total of 500 people, since 500 is 1/2 (or 50%) of 1000.
b. The percentage provided is an inferential statistic. Inferential statistics are made by taking a sample of a population and using that sample as data used to make inferences/predictions. Since the percentage provided is a sample of a population being used to make a prediction, it is an inferential statistic.
Let x denote the number of child tickets sold and y the number of adult tickets sold. The problem involves solving the following system of linear equations; x+y=132 and 5.2x+8.6y=931.2. Using technology to solve this simultaneous equation yields; x= 60, y =72
