Estimate the true value of the proportion of consumers that would recommend the product by calculating a 95% confidence interval.
A market researcher involved in the launch of a new product wishes to estimate the true value of the proportion of consumers that would recommend the new product to a friend, p.
The researcher carries out a consumer survey and finds out of the 83 individuals questioned, 22 said yes, they would recommend the product.
Estimate the true value of the proportion of consumers that would recommend the product by calculating a 95% confidence interval.
Fill in the blanks in the following:
An estimate of the population proportion is .
The standard error is .
The distribution is (examples: normal / t12 / chisquare4 / F5,6).
For a 95% confidence interval the distributional cut-off is .
It is quite likely that the true value of the proportion of consumers that would recommend the product, p, is between and . (2 dec places).
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