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n an article in the Journal of Marketing, Bayus studied the differences between "early replacement buyers" and "late replaceme uyers" in making consumer durable good replacement purchases. Early replacement buyers are consumers who replace a pro luring the early part of its lifetime, while late replacement buyers make replacement purchases late in the product's lifetime. In articular, Bayus studied automobile replacement purchases. Consumers who traded in cars with ages of zero to three years ar hileages of no more than 35,000 miles were classified as early replacement buyers. Consumers who traded in cars with ages even or more years and mileages of more than 73,000 miles were classified as late replacement buyers. Bayus compared the roups of buyers with respect to demographic variables such as income, education, age, and so forth. He also compared the tv roups with respect to the amount of search activity in the replacement purchase process. Variables compared included the nu lealers visited, the time spent gathering information, and the time spent visiting dealers. Regard the sample of 500 late replace uyers for which o = .77. How large a sample of late replacement buyers is needed to make us (Round up your answers to the vhole number.): a) 99 percent confident that a , the sample mean number of dealers visited, is within a margin of error of .04 of u, the populatie hean number of dealers visited? buyers

n an article in the Journal of Marketing, Bayus studied the differences between "early replacement buyers" and "late replaceme uyers" in making consumer durable good replacement purchases. Early replacement buyers are consumers who replace a pro luring the early part of its lifetime, while late replacement buyers make replacement purchases late in the product's lifetime. In articular, Bayus studied automobile replacement purchases. Consumers who traded in cars with ages of zero to three years ar hileages of no more than 35,000 miles were classified as early replacement buyers. Consumers who traded in cars with ages even or more years and mileages of more than 73,000 miles were classified as late replacement buyers. Bayus compared the roups of buyers with respect to demographic variables such as income, education, age, and so forth. He also compared the tv roups with respect to the amount of search activity in the replacement purchase process. Variables compared included the nu lealers visited, the time spent gathering information, and the time spent visiting dealers. Regard the sample of 500 late replace uyers for which o = .77. How large a sample of late replacement buyers is needed to make us (Round up your answers to the vhole number.): a) 99 percent confident that a , the sample mean number of dealers visited, is within a margin of error of .04 of u, the populatie hean number of dealers visited? buyers

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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In an article in the Journal of Marketing, Bayus studied the differences between "early replacement buyers" and "late replacement buyers" in making consumer durable good replacement purchases. Early replacement buyers are consumers who replace a product during the early part of its lifetime, while late replacement buyers make replacement purchases late in the product's lifetime. In particular, Bayus studied automobile replacement purchases. Consumers who traded in cars with ages of zero to three years and mileages of no more than 35,000 miles were classified as early replacement buyers. Consumers who traded in cars with ages of seven or more years and mileages of more than 73,000 miles were classified as late replacement buyers. Bayus compared the two groups of buyers with respect to demographic variables such as income, education, age, and so forth. He also compared the two groups with respect to the amount of search activity in the replacement purchase process. Variables compared included the number of dealers visited, the time spent gathering information, and the time spent visiting dealers. Regard the sample of 500 late replacement buyers for which o = .77. How large a sample of late replacement buyers is needed to make us (Round up your answers to the next whole number.): (a) 99 percent confident that ¤ , the sample mean number of dealers visited, is within a margin of error of .04 of u, the population mean number of dealers visited? n buyers (b) 99.73 percent confident that a is within a margin of error of .05 of u? buyers
Transcribed Image Text:In an article in the Journal of Marketing, Bayus studied the differences between "early replacement buyers" and "late replacement buyers" in making consumer durable good replacement purchases. Early replacement buyers are consumers who replace a product during the early part of its lifetime, while late replacement buyers make replacement purchases late in the product's lifetime. In particular, Bayus studied automobile replacement purchases. Consumers who traded in cars with ages of zero to three years and mileages of no more than 35,000 miles were classified as early replacement buyers. Consumers who traded in cars with ages of seven or more years and mileages of more than 73,000 miles were classified as late replacement buyers. Bayus compared the two groups of buyers with respect to demographic variables such as income, education, age, and so forth. He also compared the two groups with respect to the amount of search activity in the replacement purchase process. Variables compared included the number of dealers visited, the time spent gathering information, and the time spent visiting dealers. Regard the sample of 500 late replacement buyers for which o = .77. How large a sample of late replacement buyers is needed to make us (Round up your answers to the next whole number.): (a) 99 percent confident that ¤ , the sample mean number of dealers visited, is within a margin of error of .04 of u, the population mean number of dealers visited? n buyers (b) 99.73 percent confident that a is within a margin of error of .05 of u? buyers
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