MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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What do you value most when shopping in a retail store? According to a survey, 26% of consumers value personalized experience most. Complete parts (a) through (d) below.
a. Suppose that the survey had a sample size of n = 800. Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store?
.2296 <TS.2904
(Round to four decimal places as needed.)
b. Based on (a), can you claim that more than a quarter of all consumers value personalized experience most when shopping in a retail store?
A. No, because a 95% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim.
B. No, because the confidence interval contains proportion values that are less than 0.25.
C. Yes, with 95% confidence because all the values contained in the confidence interval are greater than 0.25.
D. Yes, with 95% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate.
c. Repeat parts (a) and (b), assuming that the survey had a sample size of n= 11,000.
Construct a 95% confidence interval estimate for the population proportion of social media users that have purchased an item promoted by a celebrity on a social media site.
(Round to four decimal places as needed.)
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Transcribed Image Text:What do you value most when shopping in a retail store? According to a survey, 26% of consumers value personalized experience most. Complete parts (a) through (d) below. a. Suppose that the survey had a sample size of n = 800. Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store? .2296 <TS.2904 (Round to four decimal places as needed.) b. Based on (a), can you claim that more than a quarter of all consumers value personalized experience most when shopping in a retail store? A. No, because a 95% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim. B. No, because the confidence interval contains proportion values that are less than 0.25. C. Yes, with 95% confidence because all the values contained in the confidence interval are greater than 0.25. D. Yes, with 95% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. c. Repeat parts (a) and (b), assuming that the survey had a sample size of n= 11,000. Construct a 95% confidence interval estimate for the population proportion of social media users that have purchased an item promoted by a celebrity on a social media site. (Round to four decimal places as needed.)
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