Suppose Super-Value, a major retail food company, is thinking of introducing a new product line into a market area. It is important to know the age characteristics of the people in the market area.
a. If the executives wish to calculate a number that would characterize the “center” of the age data, what statistical technique would you suggest? Explain your answer.
b. The executives need to know the percentage of people in the market area that are senior citizens. Name the basic category of statistical procedure they would use to determine this information.
c. Describe a hypothesis the executives might wish to test concerning the percentage of senior citizens in the market area.