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ivolga24 [154]
3 years ago
13

According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in the United States gets retu

rned. A Houston department store sampled 80 items sold in January and found that 8 of the items were returned. (a) Construct a point estimate of the proportion of items returned for the population ofsales transactions at the Houston store. If required, round your answer to three decimal places.
Mathematics
1 answer:
KatRina [158]3 years ago
8 0

Answer:  0.1

Step-by-step explanation:

Given :  A Houston department store sampled 80 items sold in January and found that 8 of the items were returned.

In other words, sample size : <em>n</em>=1040

Number of items returned : <em>x</em>= 8

Let <em>p</em> be the proportion of items returned for the population of sales transactions at the Houston store.

As per sample , the sample proportion of items returned for the population of sales transactions at the Houston store is :

\hat{p}=\dfrac{x}{n}=\dfrac{8}{80}=0.1

As we know that , <em>the sample proportion is the best estimate of the population proportion.</em>

Therefore,a point estimate of the proportion of items returned for the population of sales transactions at the Houston store is 0.1.

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