Case Problem: Young Professional Magazine Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years of a business or other professional career. The magazine has been fairly successt and the publisher is interested in expanding the publication's advertising base. As a recent hire into the marketing department at the magazine, you have been asked to help develop a survey asking reader demographic information and questions about their interests. Your survey results will be used to help the magazine choose articles of interest and provide advertisers with a profile of subscribers. The culmination of your work will be a presentation of your findings to management. Therefore, you not only have to present summary data, but must also be able to explain the results in a manner that is accurate and easy to understand. fter running your analysis, the software returns the following information about the age of the respondents: I Variable N St Dev SE Mean 4.0240 0.1987 Age Which statement should you use to explain the 95% confidence interval to management? O a. There is a 95% probability that the population mean age of all respondents lies within the interval 29.7215 to 30.5029. b. We are confident that 95% of our readers have ages between 29.7215 to 30.5029. X O c. We are 95% confident that the interval 29.7215 to 30.5029 includes the population mean age of all respondents. O d. We are 95% confident that the interval 29.7215 to 30.5029 includes the sample mean age of all respondents. Mean 410 30.1122 95% CI 29.7215 to 30.5029

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Transcribed Image Text:Case Problem: Young Professional Magazine Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years of a business or other professional career. The magazine has been fairly successful and the publisher is interested in expanding the publication's advertising base. As a recent hire into the marketing department at the magazine, you have been asked to help develop a survey asking readers demographic information and questions about their interests. Your survey results will be used to help the magazine choose articles of interest and provide advertisers with a profile of subscribers. The culmination of your work will be a presentation of your findings to management. Therefore, you not only have to present summary data, but must also be able to explain the results in a manner that is accurate and easy to understand. After running your analysis, the software returns the following information about the age of the respondents: Variable N St Dev SE Mean 4.0240 0.1987 Age Which statement should you use to explain the 95% confidence interval to management? Mean 410 30.1122 95% CI 29.7215 to 30.5029 O a. There is a 95% probability that the population mean age of all respondents lies within the interval 29.7215 to 30.5029. Ob. We are confident that 95% of our readers have ages between 29.7215 to 30.5029. O c. We are 95% confident that the interval 29.7215 to 30.5029 includes the population mean age of all respondents. O d. We are 95% confident that the interval 29.7215 to 30.5029 includes the sample mean age of all respondents.

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