A cellphone provider has the business objective of wanting to estimate the proportion of subscribers who would upgrade to a new cellphone with improved features if it were made available at a substantially reduced cost. Data are collected from a random sample of 500 subscribers. The results indicate that 175 of the subscribers would upgrade to a new cellphone at a reduced cost. Construct a 95% confidence interval estimate for the population proportion of subscribers that would upgrade to a new cellphone at a reduced cost. ≤π≤ (Round to four decimal places as needed.) How would the manager in charge of promotional programs use the results in (a)? A. The manager can infer that 95% of subscribers would upgrade to a new cellphone at a reduced cost. B. The manager can infer with 95% confidence that the population proportion of all subscribers that would upgrade to a new cellphone at a reduced cost is somewhere in this interval. C. The manager can infer that the true population proportion of subscribers that would upgrade to a new cellphone at a reduced cost is somewhere in this interval 95% of the time. D. The manager can infer with 95% confidence that the proportion of subscribers in the sample that would upgrade to a new cellphone at a reduced cost is somewhere in this interval.

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Description: A cellphone provider has the business objective of wanting to estimate the proportion of subscribers who would upgrade to a new cellphone with improved features if it were made available at a substantially reduced cost. Data are collected from a rand

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 cellphone provider has the business objective of wanting to estimate the proportion of subscribers who would upgrade to a new cellphone with improved features if it were made available at a substantially reduced cost. Data are collected from a random sample of 500 subscribers. The results indicate that 175 of the subscribers would upgrade to a new cellphone at a reduced cost.

Construct a 95% confidence interval estimate for the population proportion of subscribers that would upgrade to a new cellphone at a reduced cost.

__ ≤π≤ __

(Round to four decimal places as needed.)

How would the manager in charge of promotional programs use the results in (a)?

A. The manager can infer that 95% of subscribers would upgrade to a new cellphone at a reduced cost.

B. The manager can infer with 95% confidence that the population proportion of all subscribers that would upgrade to a new cellphone at a reduced cost is somewhere in this interval.

C. The manager can infer that the true population proportion of subscribers that would upgrade to a new cellphone at a reduced cost is somewhere in this interval 95% of the time.

D. The manager can infer with 95% confidence that the proportion of subscribers in the sample that would upgrade to a new cellphone at a reduced cost is somewhere in this interval.

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