After reading attahed documents, asnwer the following questions
11. Referring back to the Cash22 case (end of Chapter 2):
(a) Identify what kind sampling approach you would propose Cash22 to use for each of the population groups below (also provide the reasoning for your choice and details of how the sampling would be conducted):
(i) Cash22s existing customers
(ii) Cash22s competitors customers
(b) A simple random sample of 278 current Cash22 customers, examining their volume of check-cashing transactions in a one-year time period, found the following sample statistics:
Average yearly transaction amount: $899 Standard deviation of transaction amount: $188
What is your estimate for range of the average check-cashing transaction amount for all Cash22 customers (i.e., range of the population average)?
(c) If the sample had been obtained using a convenience sampling approach, what would your response to the above question be?
