Question: A mail-order sales company sent its new catalog initially to a representative sample of 10,000 people from its mailing list and received orders totaling $36,851.
a. Find the average dollar amount ordered per person in this initial mailing.
b. What total dollar amount in orders should the company expect when the catalog is sent to everyone on the mailing list of 563,000 people?
c. From the sample of 10,000 people generating $36,851 in orders, only 973 people actually placed an order. Find the average dollar amount ordered per person who placed an order.
d. Given the information in part c, how many orders should the company expect when the catalog is sent to everyone on the mailing list of 563,000 people?