Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low. Suppose a company wants to test the response to a new flyer and sends it to 1050 people randomly selected from their mailing list of over 200,000 people. They get orders from 134 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. enter your response here%,enter your response here% (Round to one decimal place as needed.) Part 2 b) Explain what this interval means. A. The company is 90% confident that the probability a randomly sampled person will respond to the flyer falls within the confidence interval bounds. B. The company is 90% confident that the percentage of people who will respond to the flyer falls within the confidence interval bounds. C. The company is 90% confident that the percentage of people who will not respond to the flyer falls within the confidence interval bounds. D. The values for the interval bounds should be subtracted from 90% to obtain the company's true confidence level. Part 3 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 flyer. B. About 90% of all randomly sampled people will respond to the new flyer. C. About 90% of all random samples of size 1050 will produce intervals that do not contain the true proportion of people who will respond to the new flyer. D. About 90% of all random samples of size 1050 will produce intervals that contain the true proportion of people who will respond to the new flyer. Part 4 d) The company must decide whether to do a mass mailing. The mailing won't be cost-effective unless it produces at least a 6% return. What does your confidence interval suggest? A. Do the mass mailing. B. Do not do the mass mailing.
Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low. Suppose a company wants to test the response to a new flyer and sends it to 1050 people randomly selected from their mailing list of over 200,000 people. They get orders from 134 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. enter your response here%,enter your response here% (Round to one decimal place as needed.) Part 2 b) Explain what this interval means. A. The company is 90% confident that the probability a randomly sampled person will respond to the flyer falls within the confidence interval bounds. B. The company is 90% confident that the percentage of people who will respond to the flyer falls within the confidence interval bounds. C. The company is 90% confident that the percentage of people who will not respond to the flyer falls within the confidence interval bounds. D. The values for the interval bounds should be subtracted from 90% to obtain the company's true confidence level. Part 3 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 flyer. B. About 90% of all randomly sampled people will respond to the new flyer. C. About 90% of all random samples of size 1050 will produce intervals that do not contain the true proportion of people who will respond to the new flyer. D. About 90% of all random samples of size 1050 will produce intervals that contain the true proportion of people who will respond to the new flyer. Part 4 d) The company must decide whether to do a mass mailing. The mailing won't be cost-effective unless it produces at least a 6% 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
Related questions
Question
Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low. Suppose a company wants to test the response to a new flyer and sends it to
1050
people randomly selected from their mailing list of over 200,000 people. They get orders from
134
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.enter your response here%,enter your response here%
(Round to one decimal place as needed.)Part 2
b) Explain what this interval means.
The company is
90%
confident that the probability a randomly sampled person will respond to the flyer falls within the confidence interval bounds.The company is
90%
confident that the percentage of people who will respond to the flyer falls within the confidence interval bounds.The company is
90%
confident that the percentage of people who will not respond to the flyer falls within the confidence interval bounds.The values for the interval bounds should be subtracted from
90%
to obtain the company's true confidence level.Part 3
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 flyer.About
90%
of all randomly sampled people will respond to the new flyer.About
samples of size
90%
of all random 1050
will produce intervals that do not contain the true proportion of people who will respond to the new flyer.About
90%
of all random samples of size
1050
will produce intervals that contain the true proportion of people who will respond to the new flyer.Part 4
d) The company must decide whether to do a mass mailing. The mailing won't be cost-effective unless it produces at least a
6%
return. What does your confidence interval suggest?Do the mass mailing.
Do not do the mass mailing.
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