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 SaS .2904 (Round to four decimal places as needed.) b. Based on (a), can you claim that more than quarter of all consumers value personalized experience most when shopping in a retail store? O A. 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. B. No, because the confidence interval contains proportion values that are less than 0.25. O C. Yes, with 95% confidence because all the values contained in the confidence interval are greater than 0.25. O D. Yes, with 95% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. c. Repeat parts (a) and (b), assuming that the survey had a sample size of n=11,000. Construct a 95% confidence interval estimate for the population proportion of social media users that have purchased an item promoted by a celebrity on a social media site. (Round to four decimal places as needed.)
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 SaS .2904 (Round to four decimal places as needed.) b. Based on (a), can you claim that more than quarter of all consumers value personalized experience most when shopping in a retail store? O A. 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. B. No, because the confidence interval contains proportion values that are less than 0.25. O C. Yes, with 95% confidence because all the values contained in the confidence interval are greater than 0.25. O D. Yes, with 95% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. c. Repeat parts (a) and (b), assuming that the survey had a sample size of n=11,000. Construct a 95% confidence interval estimate for the population proportion of social media users that have purchased an item promoted by a celebrity on a social media site. (Round to four decimal places as needed.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
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 <TS.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?
A. 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.
B. No, because the confidence interval contains proportion values that are less than 0.25.
C. Yes, with 95% confidence because all the values contained in the confidence interval are greater than 0.25.
D. Yes, with 95% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate.
c. Repeat parts (a) and (b), assuming that the survey had a sample size of n= 11,000.
Construct a 95% confidence interval estimate for the population proportion of social media users that have purchased an item promoted by a celebrity on a social media site.
(Round to four decimal places as needed.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman