A retail store is considering adding a new product line to its inventory. The store wants to know whether the new product line will be popular with customers. To determine this, they take a random sample of customers and ask if they would be interested in buying the new product line. Of the 125 people they asked, 70 were interested in this new product line. The manager is interested in creating a 90 % confidence interval regarding the population parameter.
A retail store is considering adding a new product line to its inventory. The store wants to know whether the new product line will be popular with customers. To determine this, they take a random sample of customers and ask if they would be interested in buying the new product line. Of the 125 people they asked, 70 were interested in this new product line. The manager is interested in creating a 90 % confidence interval regarding the population parameter.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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Transcribed Image Text:A retail store is considering adding a new product line
to its inventory. The store wants to know whether the
new product line will be popular with customers. To
determine this, they take a random sample of customers
and ask if they would be interested in buying the new
product line. Of the 125 people they asked, 70 were
interested in this new product line. The manager is
interested in creating a 90 % confidence interval regarding
the population parameter.
Transcribed Image Text:Based on the information given, explain the type of
statistical technique that should be used to analyze the
data.
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