As a manager you want to know how likely is it that somebody who enters the store will purchase something. You asked one of your employees to check how many of the people who come to the store buy something. During one afternoon out of 280 people who entered the store 70 actually bought something. a. Find the sample probability of purchase. b. Find 90% confidence interval for the sample probability of purchase. C. Find 95% confidence interval for the sample probability of purchase.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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As a manager you want to know how likely is it that somebody who
enters the store will purchase something. You asked one of your
employees to check how many of the people who come to the store
buy something. During one afternoon out of 280 people who entered
the store 70 actually bought something.
Find the sample probability of purchase.
b. Find 90% confidence interval for the sample probability of
purchase.
Find 95% confidence interval for the sample probability of
purchase.
d. Find 99% confidence interval for the sample probability of
purchase.
e. Which of those confidence intervals is the widest and why?
f.
a.
C.
What if the lower bound of the confidence interval in this case
would be below 0?
Tor
Transcribed Image Text:As a manager you want to know how likely is it that somebody who enters the store will purchase something. You asked one of your employees to check how many of the people who come to the store buy something. During one afternoon out of 280 people who entered the store 70 actually bought something. Find the sample probability of purchase. b. Find 90% confidence interval for the sample probability of purchase. Find 95% confidence interval for the sample probability of purchase. d. Find 99% confidence interval for the sample probability of purchase. e. Which of those confidence intervals is the widest and why? f. a. C. What if the lower bound of the confidence interval in this case would be below 0? Tor
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