A sample of five Fortune 500 companies showed the following industry codes: banking, banking, finance, retail, and banking. Based on this information, which of the following statements is correct?

a.Sixty percent of the sample of five companies are banking industries.
b.Sixty percent of all Fortune 500 companies are banking industries.
c.Banking is the most common type of industry among all Fortune 500 companies.
d.If five other Fortune 500 companies were chosen, 60% of them would be banking industries.

Answer :

Based on the given information, Sixty percent of the sample of five companies are banking industries is correct.

Explanation:

When conducting research, the population and the sample plays a major role in the study, since these are helpful in the determination of the characteristics of the elements that are considered under study. The population refers to all the elements that are included in the data set. The sample includes only those elements that are taken from the population data set.

In the given example, 5 fortune 500 companies are taken as samples. The industry codes of these are banking, banking, finance, retail, and banking. This means that the industry code that is more in the sample is banking. Thus,  from the given statements, Sixty percent of the sample of five companies are banking industries is correct.

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