Question

Your marketing agency wants to send a survey to 500 people. You desire the respondents to represent the full range of incomes under $100,000 per year. You are authorized to purchase 500 names chosen at random from 1 of the following 3 databases. Which database is most likely to fit your needs, and why? Income distribution Database 1 Database 2 Database 3 Mean $25,625 $49,205 $88,340 Standard deviation $15,990 $25,485 $35,8

Answer 1

Database 2  is most likely to fit needs as it has maximum % of people lying in Range and mean is centered

Step-by-step explanation:

using Z = (Value - Mean)/Standard Deviation

Range  are $0 & $100000

                                   Database 1             Database 2        Database 3

Mean                            $25,625                $49,205              $88,340                                        Standard deviation       $15,990                 $25,485              $35,800

Z lower                           -1.6                        -1.93                     -2.47

Z upper                           4.65                      1.99                      0.326

People lying in range   94.5 %                    94.9%                  62%

 Database 2 has maximum % of people lying in expected range

Also Mean is almost centered here