“Under One Thousand Shillings” Corner Store is planning to open a new store
on the corner of Main and Crescent Streets. It has asked the Tomorrow’s
Marketing Company to do a market study of randomly selected families within
a five kilometers radius of the store. Among the questions it wishes
Tomorrow’s Marketing Company to ask each home-owner are:
(1) Family income
(2) Family size
(3) Distance from home to the store site.
(4) Whether or not the family owns a car or uses public transport.
Required:
For each of the four questions, develop a random variable of interest to
“Under One Thousand Shillings” Corner Store. Denote which of these are
discrete and which are continuous random variables.
(15 marks)