kely purchase Mungo’s new chip flavor?” Mungo is interested in the proportion of survey respondents answering “Yes”. 2) What types of sampling errors might Mungo enco
2. Use An Excel file with any work.
Questions:
1) Create a sampling plan that Mungo can use to evaluate the potential popularity of this new
flavor. Assume that they will be conducting a telephone-based poll. Respondents will be asked a
simple “Yes” / “No” question: “Would you likely purchase Mungo’s new chip flavor?” Mungo is
interested in the proportion of survey respondents answering “Yes”.
2) What types of sampling errors might Mungo encounter via this poll? Do you have any
suggestions to reduce these errors?
3) If Mungo is able to get 125 survey responses, what would the confidence interval for the
proportion be? Assume that the sample proportion (respondents that said “Yes” to the question
in Task 1) is 0.288 (36 respondents).
4) Mungo’s management team is convinced that the product will be a success if 30% or more of
the product’s target population indicate they are likely to purchase the product. Based upon
your answer in Task 3, how would you advise management regarding the potential for the
product to be successful?
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I need the Solution to Question 4.
4) Mungo’s management team is convinced that the product will be a success if 30% or more of
the product’s target population indicate they are likely to purchase the product. Based upon
your answer in Task 3, how would you advise management regarding the potential for the
product to be successful?
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