Part 1 A small ice cream parlor has had great success over the past several years and is interested in expanding into handmade chocolate candies. A poll of 56 randomly selected customers was asked if they would purchase these chocolate candies. Forty of the customers indicated that they would. a. Obtain a point estimate, pˆ(p-hat), for the proportion of customers that said they would purchase handmade chocolate candies from this ice cream manufacturer. (Show your work!) b. Calculate a 95% confidence interval for the proportion of customers who would purchase chocolate candies from this ice cream manufacturer. c. Interpret the Confidence Interval. d. The ice cream parlor needs at least 85% of its customers to purchase handmade chocolate candies to make this expansion profitable. Does it appear as if the expansion into handmade chocolate candies will be profitable? Explain. Part 2 The grade point averages for 10 randomly selected high school students are listed below. Assume the grade point averages are normally distributed. 2.0 3.2 1.8 2.9 0.9 4.0 3.3 2.9 3.6 0.8 a. Calculate a 90% confidence interval for the true mean grade point averages. b. The principal claims that a new after-school tutoring program has improved student GPAs to 3.0. Based on the confidence interval, is the principal telling the truth? Explain! c. What would happen to the confidence interval if the sample size was increased to 50 students? Be specific!
Part 1
A small ice cream parlor has had great success over the past several years and is interested in expanding into handmade chocolate candies. A poll of 56 randomly selected customers was asked if they would purchase these chocolate candies. Forty of the customers indicated that they would.
a. Obtain a point estimate, pˆ(p-hat), for the proportion of customers that said they would purchase handmade chocolate candies from this ice cream manufacturer. (Show your work!)
b. Calculate a 95% confidence interval for the proportion of customers who would purchase chocolate candies from this ice cream manufacturer.
c. Interpret the Confidence Interval.
d. The ice cream parlor needs at least 85% of its customers to purchase handmade chocolate candies to make this expansion profitable. Does it appear as if the expansion into handmade chocolate candies will be profitable? Explain.
Part 2
The grade point averages for 10 randomly selected high school students are listed below. Assume the grade point averages are
| 2.0 | 3.2 | 1.8 | 2.9 | 0.9 | 4.0 | 3.3 | 2.9 | 3.6 | 0.8 |
a. Calculate a 90% confidence interval for the true mean grade point averages.
b. The principal claims that a new after-school tutoring program has improved student GPAs to 3.0. Based on the confidence interval, is the principal telling the truth? Explain!
c. What would happen to the confidence interval if the
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
