Answered: A business has just completed a…

Name: A business has just completed a marketing campaign. They want to deter
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Description: A business has just completed a marketing campaign. They want to determine if their original market share of 50% has increased as a result of the campaign. A survey conducted found 81 out of 150 people had bought the products. Determine whether the c

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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A business has just completed a marketing campaign. They want to determine if their original market share of 50% has increased as a result of the campaign. A survey conducted found 81 out of 150 people had bought the products. Determine whether the company has increased its market share

- Use either the p-value or the z statistic conduct the test. Has the market share of the company increased?

- The marketing team plan to continue to monitor their market share. In a future study, they want to be able to estimate their market share to within +/−5% and with 90% confidence. What size sample is required? Use the sample proportion from part ii.

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