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 age 55 and up housing market: Seniors - Employed Part Time; Seniors - Retired / Not in Assisted Living. Utilizing the following population information, determine the core market share that the development project yearns to target with this project. Total Senior Households: 25,000; Seniors - Employed Full Time: 8,000; Seniors - Employed Part Time: 2,500; Seniors - Retired / Not in Assisted Living: 12,000; Seniors - Retired / In Assisted Living: 2,500
A) 58.0%
B) 80.0%
C) 90.0%
D) 100.0%

Question

Quizplus · Accepted Answer

The core market share targeted by the development project includes "Seniors - Employed Part Time" and "Seniors - Retired / Not in Assisted Living." The numbers for these groups are 2,500 and 12,000, respectively. Adding these together gives 14,500. To find the percentage of the total senior households this represents, divide 14,500 by the total number of senior households, 25,000, and then multiply by 100 to convert to a percentage: (14,500 / 25,000) * 100 = 58.0%.

Suppose That You Have Begun to Gather Some Demographic Data