When Sloan finally ran the study, she collected responses from 800 customers. Out of those 800, 356said that they had plans to buy a bicycle in the next 5 years.Calculate the 95% confidence interval for the proportion of customers planning to buy a bicycle inthe next 5 years, and interpret your answer in context. Show all the steps of your calculations, withclear justification where necessary, and include any formulas used. Round the number at each stepto 3dp. Armed with some preliminary results for the recently released new bicycle, Sloan is planning a biggerstudy about the reception of the new product with 800 customers. Kiloton has a database ofcustomers that purchased their products before. Sloan will randomly choose customers from thedatabase and will ask them to rate the new bicycle on a scale from 1-100 and indicate their intentionof buying a bicycle from Kiloton.As the deadline for the report is soon, Sloan wants to understand what kind of response rate she willprobably get. From the data available from previous surveys taken over the last 10 years, Sloandetermines that, on average, 45 customers reply to the survey per day.Can we use the Normal approximation to estimate the probability that on any given day there will bemore than 100 replies? Note that you don't need to estimate the probability. You should provide ajustification for whether we can or cannot use the approximation.

When Sloan finally ran the study, she collected responses from 800 customers. Out of those 800, 356 said that they had plans to buy a bicycle in the next 5 years. Calculate the 95% confidence interval for the proportion of customers planning to buy a bicycle in the next 5 years, and interpret your answer in context. Show all the steps of your calculations, with clear justification where necessary, and include any formulas used. Round the number at each step to 3dp.

When Sloan finally ran the study, she collected responses from 800 customers. Out of those 800, 356 said that they had plans to buy a bicycle in the next 5 years. Calculate the 95% confidence interval for the proportion of customers planning to buy a bicycle in the next 5 years, and interpret your answer in context. Show all the steps of your calculations, with clear justification where necessary, and include any formulas used. Round the number at each step to 3dp.

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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