Survey respondents indicated they buy potato chips at the supermarket between three and five times per month. This is an example of which statistical concept?

Study for the DECA Entrance Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The statistical concept applicable in this scenario is the range, which measures the difference between the highest and lowest values in a set of data. In this case, the survey indicates that respondents buy potato chips between three and five times per month. Therefore, the range can be calculated by subtracting the minimum value (three) from the maximum value (five), resulting in a range of two.

This concept is essential for understanding variability in a dataset, as it provides insight into how spread out the purchase frequency of potato chips is among the respondents. By identifying the range, one can get a clear idea of the minimum and maximum behavior in the buying patterns, which is valuable for analyzing consumer habits.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy