a. Construct a point estimate of the proportion of items returned for the population of sales transactions at the Houston store. (to 4 decimals) b. Construct a 99% confidence interval for the proportion of returns at the Houston store. ) (to 4 decimals) c. Is the proportion of returns at the Houston store significantly different from the returns for the nation as a whole? Provide statistical support for your answer. Since the confidence interval Select your answer 0.07, we conclude that the return rate for the Houston store Select your answer the U.S. national return rate.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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According to the University of Nevada Center for Logistics Management, 7% of all merchandise sold in the United States gets returned. A Houston department
store sampled 120 items sold in January and found that 15 of the items were returned.
a. Construct a point estimate of the proportion of items returned for the population of sales transactions at the Houston store.
(to 4 decimals)
b. Construct a 99% confidence interval for the proportion of returns at the Houston store.
) (to 4 decimals)
c. Is the proportion of returns at the Houston store significantly different from the returns for the nation as a whole? Provide statistical support for your answer.
Since the confidence interval
Select your answer
0.07, we conclude that the return rate for the Houston store
Select your answer -
v the U.S. national
return rate.
Transcribed Image Text:According to the University of Nevada Center for Logistics Management, 7% of all merchandise sold in the United States gets returned. A Houston department store sampled 120 items sold in January and found that 15 of the items were returned. a. Construct a point estimate of the proportion of items returned for the population of sales transactions at the Houston store. (to 4 decimals) b. Construct a 99% confidence interval for the proportion of returns at the Houston store. ) (to 4 decimals) c. Is the proportion of returns at the Houston store significantly different from the returns for the nation as a whole? Provide statistical support for your answer. Since the confidence interval Select your answer 0.07, we conclude that the return rate for the Houston store Select your answer - v the U.S. national return rate.
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