If you were to sort your customer base and select the top 10

If you were to sort your customer base and select the top 100 with the most sales over the last year, what might you be able to do with this data? What might be the benefits of describing the data? Would you consider this data set to be a sample or a population?

Solution

The given question deals with the study of the top customers with maximum sales. The obtained data can provide with the upper limit for the total population, while it can roughly provide with one of the quartiles. The benefits of describing the data is that it will provide one of the quartiles and thus help to decide the maximum stock that will be required for next year. The data can be considered a sample if randomness is not considered.