A retail store is considering adding a new product lineto its inventory. The store wants to know whether thenew product line will be popular with customers. Todetermine this, they take a random sample of customersand ask if they would be interested in buying the newproduct line. Of the 125 people they asked, 70 wereinterested in this new product line. The manager isinterested in creating a 90 % confidence interval regardingthe population parameter. Based on the information given, explain the type ofstatistical technique that should be used to analyze thedata.

Sample size, N = 125favourable cases, x=70Confidence level, cl = 0.90level of significance, = 0.10

Answered: A retail store is considering adding a…

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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