1(a) What is meant by the term random sample (line 34)?
The term random sample means a part of a population chosen for investigation without following any specific scientific pattern. The elements of the sample are chosen without following a definite pattern.
1(b) State the formula for calculating ‘market share’ percentage (line 50)?
Market share percentage=
1 (c) Tom believes that the level of spending per visit by his customers will stay the same in 2011 and 2012. Based on the information in the case study, how many customers is he anticipating in 2012?
Number of customers expected=8350 customers.