Companies send advertisements to you hoping you will buy the company's merchandise. Suppose a company wants to test the response to a new brochure and sends it to 1130 addresses randomly selected from their mailing list of over 200,000 addresses. They get orders from 119 of the recipients. Use this information to complete parts a through d. a) Create a 90% confidence interval for the percentage of people the company contacts who may buy something. ______%,_______% (Round to one decimal place as needed.) b) Explain what this interval means. A. The values for the interval bounds should be subtracted from 90% to obtain the company's true confidence level. B. The company is 90%confident that the percentage of people who will respond to the brochure falls within the confidence interval bounds. C. The company is 90% confident that the probability a randomly sampled person will respond to the brochure falls within the confidence interval bounds. D. The company is 90%confident that the percentage of people who will not respond to the brochure falls within the confidence interval bounds. c) Explain what "90% confidence" means. A. About 90% of all random samples will produce intervals that contain the true proportion of people who will respond to the new brochure. B. About 90% of all random samples of size 1130 will produce intervals that contain the true proportion of people who will respond to the new brochure. C. About 90% of all random samples of size 1130 will produce intervals that do not contain the true proportion of people who will respond to the new brochure. D. About 90% of all randomly sampled people will respond to the new brochure. d) The company must decide whether to do a mass mailing. The mailing won't be cost-effective unless it produces at least a 5% return. What does your confidence interval suggest? A. Do the mass mailing. B. Do not do the mass mailing.

Companies send advertisements to you hoping you will buy the company's merchandise. Suppose a company wants to test the response to a new brochure and sends it to 1130 addresses randomly selected from their mailing list of over 200,000 addresses. They get orders from 119 of the recipients. Use this information to complete parts a through d. a) Create a 90% confidence interval for the percentage of people the company contacts who may buy something. %,_% (Round to one decimal place as needed.) b) Explain what this interval means. A. The values for the interval bounds should be subtracted from 90% to obtain the company's true confidence level. B. The company is 90%confident that the percentage of people who will respond to the brochure falls within the confidence interval bounds. C. The company is 90% confident that the probability a randomly sampled person will respond to the brochure falls within the confidence interval bounds. D. The company is 90%confident that the percentage of people who will not respond to the brochure falls within the confidence interval bounds. c) Explain what "90% confidence" means. A. About 90% of all random samples will produce intervals that contain the true proportion of people who will respond to the new brochure. B. About 90% of all random samples of size 1130 will produce intervals that contain the true proportion of people who will respond to the new brochure. C. About 90% of all random samples of size 1130 will produce intervals that do not contain the true proportion of people who will respond to the new brochure. D. About 90% of all randomly sampled people will respond to the new brochure. d) The company must decide whether to do a mass mailing. The mailing won't be cost-effective unless it produces at least a 5% return. What does your confidence interval suggest? A. Do the mass mailing. B. Do not do the mass mailing.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

Companies send advertisements to you hoping you will buy the company's merchandise. Suppose a company wants to test the response to a new brochure and sends it to

1130

addresses randomly selected from their mailing list of over 200,000 addresses. They get orders from

119

of the recipients. Use this information to complete parts a through d.

a) Create a 90% confidence interval for the percentage of people the company contacts who may buy something.

______%,_______%

(Round to one decimal place as needed.)

b) Explain what this interval means.

The values for the interval bounds should be subtracted from 90% to obtain the company's true confidence level.

The company is 90%confident that the percentage of people who will respond to the brochure falls within the confidence interval bounds.

The company is 90% confident that the probability a randomly sampled person will respond to the brochure falls within the confidence interval bounds.

The company is 90%confident that the percentage of people who will not respond to the brochure falls within the confidence interval bounds.

c) Explain what

"90%

confidence" means.

About 90% of all random samples will produce intervals that contain the true proportion of people who will respond to the new

brochure.

About 90% of all random samples of size 1130 will produce intervals that contain the true proportion of people who will respond to the new

brochure.

About 90% of all random samples of size 1130 will produce intervals that do not contain the true proportion of people who will respond to the new

brochure.

About 90% of all randomly sampled people will respond to the new brochure.

d) The company must decide whether to do a mass mailing. The mailing won't be cost-effective unless it produces at least a 5% return.

What does your confidence interval suggest?

Do the mass mailing.

Do not do the mass mailing.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 5 steps with 1 images

SEE SOLUTION Check out a sample Q&A here