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Statistical Technique

A group of executives at a local company is considering introducing a new product into a market area. It is important to know the age characteristics of the people in the market area.

a. If the executives with to calculate a number that would characterize the "center" of the age data, what statistical technique would you suggest? Explain.
b. The executives need to know the percentage of people in the market area that are senior citizens. Name the basic category of statistical inference tools they would use to provide this information.
c. Describe a hypothesis upon which the executives might wish to conduct a test concerning the percentage of senior citizens in the market area.

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A group of executives at a local company is considering introducing a new product into a market area. It is important to know the age characteristics of the people in the market area.

a. If the executives with to calculate a number that would characterize the "center" of the age data, what statistical technique would you suggest? Explain.
b. The executives need to know the percentage of people in the market area that are senior citizens. Name the basic category of statistical inference tools they would use to provide this information.
c. Describe a hypothesis upon which the executives might wish to conduct a test concerning the percentage of senior citizens in the market area.

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