In market research, _____ is defined as the total set of people being observed.
(1 point)
Responses
interval
interval
statistics
statistics
sample
sample
population
population
In market research, the term used to describe the total set of people being observed is called the "population."
To understand how the population is defined in market research, we need to look at the broader context of data collection and analysis. When conducting research, it is often impossible or impractical to gather information from every single individual in a specific group or target market. Therefore, researchers select a smaller subset of individuals called a "sample" to collect data from.
The sample represents a proportion of the population and is selected using various sampling methods to ensure it is representative of the larger group. By gathering data from this representative sample, researchers can make inferences and draw conclusions about the entire population. It is important to note that the accuracy and effectiveness of market research findings largely depend on the quality of the sample and how well it reflects the characteristics of the population it represents.
In summary, in market research, the population refers to the total set of individuals that a study aims to observe or draw conclusions about. The sample represents a subset of this population, enabling researchers to make educated insights and predictions about the larger group.