For Exercises 8.1 and 8.2, see page 419; for 8.3 and 8.4, see page 421; for 8.5 to 8.7, see page 423; for 8.8 to 8.11, see pages 425–426; for 8.12, see page 426; for 8.13 and 8.14, see page 429; and for 8.15 and 8.16, see page 431.

Question 8.2

8.2 Coca-Cola and demographics

A Pew survey interviewed 162 CEOs from U.S. companies. The report of the survey quotes Muhtar Kent, Coca-Cola Company chairman and CEO, on the importance of demographics in developing customer strategies. Kent notes that the population of the United States is aging and that there is a need to provide products that appeal to this segment of the market. The survey found that 52% of the CEOs in the sample are planning to change their customer growth and retention strategies.

  1. How many CEOs participated in the survey? What is the sample size for the survey?
  2. What is the count of those who said that they are planning to change their customer growth and retention strategies?
  3. Find the sample proportion .
  4. The quotes from Muhtar Kent in the report could be viewed as anecdotal data. Do you think that these quotes are useful to explain and interpret the results of the survey? Write a short paragraph discussing your answer.