Recall from Chapter 2 that the file Supermarket Transactions.xlsx contains over 14,000 transactions made by supermarket customers
Question:
a. If you were interesting in estimating the mean of Revenue for the population, why might it make sense to use a stratified sample, stratified by product family, to estimate this mean?
b. Suppose you want to generate a stratified random sample, stratified by product family, and have the total sample size be 250. If you use proportional sample sizes, how many transactions should you sample from each of the three product families?
c. Calculate the population standard deviations for each of the three product families. Given these and the discussion in the book, do you think the optimal sample sizes would be much different from the proportional sample sizes?
d. Using the sample sizes from part b, generate a corresponding stratified random sample. What are the individual sample means from the three product families? What are the sample standard deviations?
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Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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