a. Suppose that the survey had a sample size shopping in a retail store? 190% confidence interval estimate for the population proportion consumers that value pers (Round to four decimal places as needed.) b. Based on (a), can you claim that more than a quarter of all consumers value personalized experience most when shopping in a retail store? OA. Yes, with 90% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. experience most when

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What do you value most when shopping in a retail store? According to a survey, 27% of consumers value personalized experience most. Complete parts (a) through (d) below.
a. Suppose that the survey had a sample size of n = 1000. Construct a 90% confidence interval estimate for the population proportion of consumers that value personalized experience most when
shopping in a retail store?
(Round to four decimal places as needed.)
b. Based on (a), can you claim that more than quarter of all consumers value personalized experience most when shopping in a retail store?
O A.
Yes, with 90% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate.
O B.
No, because a 90 % confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim.
O C. Yes, with 90% confidence because all the values contained in the confidence interval are greater than 0.25.
O D. No, because the confidence interval contains proportion values that are less than 0.25.
c. Repeat parts (a) and (b), assuming that the survey had a sample size of n = 10,000.
Construct a 90% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store.
(Round to four decimal places as needed.)
Based on the confidence interval created using a sample size of 10,000, can you claim that more than a quarter of all consumers value personalized experience most when shopping in a retail store?
O A. Yes, with 90% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate.
O B. No, because a 90% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim.
O C. Yes, with 90% confidence because all the values contained in the confidence interval are greater than 0.25.
O D. No, because the confidence interval contains proportion values that are less than 0.25.
d. Discuss the effect of sample size on confidence interval estimation.
Choose the correct answer below.
O A. A larger sample size results in a wider confidence interval, holding everything else constant.
O B. A larger sample size has no effect on a confidence interval, holding everything else constant.
O C. A larger sample size results in a narrower confidence interval, holding everything else constant.
OD. It is impossible to compare confidence interval estimates with difference sample sizes because the sample size is part of the formula for finding confidence interval estimate limits.
Transcribed Image Text:What do you value most when shopping in a retail store? According to a survey, 27% of consumers value personalized experience most. Complete parts (a) through (d) below. a. Suppose that the survey had a sample size of n = 1000. Construct a 90% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store? (Round to four decimal places as needed.) b. Based on (a), can you claim that more than quarter of all consumers value personalized experience most when shopping in a retail store? O A. Yes, with 90% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. O B. No, because a 90 % confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim. O C. Yes, with 90% confidence because all the values contained in the confidence interval are greater than 0.25. O D. No, because the confidence interval contains proportion values that are less than 0.25. c. Repeat parts (a) and (b), assuming that the survey had a sample size of n = 10,000. Construct a 90% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store. (Round to four decimal places as needed.) Based on the confidence interval created using a sample size of 10,000, can you claim that more than a quarter of all consumers value personalized experience most when shopping in a retail store? O A. Yes, with 90% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. O B. No, because a 90% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim. O C. Yes, with 90% confidence because all the values contained in the confidence interval are greater than 0.25. O D. No, because the confidence interval contains proportion values that are less than 0.25. d. Discuss the effect of sample size on confidence interval estimation. Choose the correct answer below. O A. A larger sample size results in a wider confidence interval, holding everything else constant. O B. A larger sample size has no effect on a confidence interval, holding everything else constant. O C. A larger sample size results in a narrower confidence interval, holding everything else constant. OD. It is impossible to compare confidence interval estimates with difference sample sizes because the sample size is part of the formula for finding confidence interval estimate limits.
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