What do you value most when shopping in a retail store? According to a survey, 26% of consumers value personalized experience most. Assuming that the survey had a sample size of n=10,000.Construct a 90% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store.
What do you value most when shopping in a retail store? According to a survey, 26% of consumers value personalized experience most. Assuming that the survey had a sample size of n=10,000.Construct a 90% 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
Section: Chapter Questions
Problem 1P
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Question
What do you value most when shopping in a retail store? According to a survey, 26% of consumers value personalized experience most. Assuming that the survey had a
Expert Solution
Step 1: Determine the given variables.
The question is about confidence interval.
Given :
No. of consumers under survey ( n ) = 10000
Sample proportion of consumers value personalized experience most ( ) = 0.26
Confidence level ( C ) = 0.90
To find :
Confidence interval for population proportion.
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