A nationwide survey of 1000 adults found that 50% of respondents favored a plan to break up the 12 megabanks, which then controlled 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.

Question

23-01-2020
Mathematics

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A nationwide survey of 1000 adults found that 50% of respondents favored a plan to break up the 12 megabanks, which then controlled 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.

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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.