Recall from Chapter 2 that the file Supermarket Transactions.xlsx contains over 14,000 transactions made by supermarket customers over a period of approximately two years. For this problem, consider this data set the population of transactions.

a. If you were interested in estimating the mean of Revenue for the population, why might it make sense to use a stratified sample, stratified by product family, to estimate this mean?

b. Suppose you want to generate a stratified random sample, stratified by product family, and have the total sample size be 250. If you use proportional sample sizes, how many transactions should you sample from each of the three product families?

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

c. Using the sample sizes from part b, generate a corresponding stratified random sample. What are the individual sample means from the three product families? What are the sample standard deviations?

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"