A ketchup manufacturer is in the process of deciding whether to produce an extra spicy brand. The company’s marketing research department used a national telephone survey of 6000 households and found the extra spicy ketchup would be purchased by 335 of them. Construct a 98% confidence interval for the proportion of individuals who would buy the extra spicy ketchup. If we are sure that more than 5% of individuals will buy the extra spicy ketchup, the company should produce the ketchup. Is it safe to assume that over 5% of individuals will buy the ketchup?
A ketchup manufacturer is in the process of deciding whether to produce an extra spicy brand. The company’s marketing research department used a national telephone survey of 6000 households and found the extra spicy ketchup would be purchased by 335 of them. Construct a 98% confidence interval for the proportion of individuals who would buy the extra spicy ketchup. If we are sure that more than 5% of individuals will buy the extra spicy ketchup, the company should produce the ketchup. Is it safe to assume that over 5% of individuals will buy the ketchup?
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 ketchup manufacturer is in the process of deciding whether to produce an extra spicy brand. The company’s marketing research department used a national telephone survey of 6000 households and found the extra spicy ketchup would be purchased by 335 of them. Construct a 98% confidence interval for the proportion of individuals who would buy the extra spicy ketchup. If we are sure that more than 5% of individuals will buy the extra spicy ketchup, the company should produce the ketchup. Is it safe to assume that over 5% of individuals will buy the ketchup?
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