Question
A retail company wants to study customer purchasing behaviour in its stores. What would be the
population for this study be? How will you sample the data and draw inferences? Also, differentiate
between descriptive and inferential statistics with suitable examples
Answer :
Word Count : 603
In a study of customer purchasing behaviour in a retail company, the population refers to the complete group of individuals or units that the researcher wants to study and about which conclusions are to be drawn. In this case, the population would include all customers who purchase products from the company’s stores during the specific period of study. It may include customers from different locations, age groups, income levels, and purchasing patterns. The population can be defined more clearly by considering factors such as the number of stores, geographical area, time period, and type of customers being studied. Studying the entire population is often difficult because it requires more time, money, and resources. Therefore, a sample is selected from the _________ ____ ______ ________ ______ __________ ___ _____ ______.
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In a study of customer purchasing behaviour in a retail company, the population refers to the complete group of individuals or units that the researcher wants to study and about which conclusions are to be drawn. In this case, the population would include all customers who purchase products from the company’s stores during the specific period of study. It may include customers from different locations, age groups, income levels, and purchasing patterns. The population can be defined more clearly by considering factors such as the number of stores, geographical area, time period, and type of customers being studied. Studying the entire population is often difficult because it requires more time, money, and resources. Therefore, a sample is selected from the _________ ____ ______ ________ ______ __________ ___ _____ ______.
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