Suppose that you have begun to gather some demographic data in order to project the potential sales of a new development project. The developer hopes to be able to target the following household types who fall in the upper 10% of income brackets: Empty Nesters, Single Parents, and Unrelated Individuals. Utilizing the following population information, determine the core market share that the development project yearns to target with this project. Total Owner Occupant Households: 48,000; Traditional Families in the Upper 10% of Income Brackets: 25,000; Empty Nesters in the Upper 10% of Income Brackets: 5,000; Single Parents in the Upper 10% of Income Brackets: 10,000; Unrelated Individuals in the Upper 10% of Income Brackets: 8,000
A) 4.17%
B) 47.92%
C) 52.08%
D) 92.00%

Question

Quizplus · Accepted Answer

The core market share targeted by the development project includes Empty Nesters, Single Parents, and Unrelated Individuals in the upper 10% of income brackets, which totals 5,000 + 10,000 + 8,000 = 23,000 households. Given there are 48,000 total owner occupant households, the target market share is 23,000 / 48,000 = 47.92%.

Suppose That You Have Begun to Gather Some Demographic Data