G plete parts a. Suppose that the survey had a sample size of n=800. Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store? 2296 ≤x≤ 2904 "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 95% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. OB. No, because a 95% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim. OC. Yes, with 95% confidence because all the values contained in the confidence interval are greater than 0.25. D. No, because the confidence interval contains proportion values that are less than 0.25. SAS Round to four decimal places as needed.) c. Repeat parts (a) and (b), assuming that the survey had a sample size of n = 10,000. Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store.
G plete parts a. Suppose that the survey had a sample size of n=800. Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store? 2296 ≤x≤ 2904 "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 95% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. OB. No, because a 95% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim. OC. Yes, with 95% confidence because all the values contained in the confidence interval are greater than 0.25. D. No, because the confidence interval contains proportion values that are less than 0.25. SAS Round to four decimal places as needed.) c. Repeat parts (a) and (b), assuming that the survey had a sample size of n = 10,000. Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:What do you value most when shopping in a retail store? According to a survey, 26% of consumers value personalized experience most. Complete parts (a) through (d) below.
a. Suppose that the survey had a sample size of n=800. Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store?
2296 ≤ ≤ 2904
(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?
O A. Yes, with 95% 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 95% 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 95% confidence because all the values contained in the confidence interval are greater than 0.25.
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 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store.
SAS
(Round to four decimal places as needed.)
Expert Solution

Step 1: Determine the given variables.
The question is about confidence interval.
Given :
Sample proportion of consumers who value personalized experience more ( ) = 0.26
Confidence level ( C ) = 0.95
To find :
a ) Construct a confidence interval for n = 800
b ) Test the given claim
c ) Repeat part ( a ) and ( b ) for n = 10,000
Step by step
Solved in 5 steps with 16 images

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