Answer:
1. Referring to Problem , the manager wants to know the value of the population so the manager uses the sample to estimate the population proportion.
a. True
2. Referring to Problem , point estimate of the population proportion is = 0.45.
a. True
3. Referring to problem , the sample proportion is = 0.45.
b. False
4. Referring to Problem, the manager wants to know the value for the population so the manager uses the sample to estimate the population value
b. False
5. Referring to Problem , the parameter of interest is 54/120 = 0.45.
a. True
Explanation:
a) Data and Calculations:
Sample of potential consumers = 120
Proportion of the sample who recognize the product = 54
Confidence level = 95%
Confidence interval = 0.36 to 0.54
Point estimate = 54/120 = 0.45
b) A point estimate of a population parameter estimates the population parameter as a single value. The point estimate of the sample mean, x, is also the point estimate of the population mean, μ. To get the sample proportion, one needs to know the population value. The sample value divided by the population value gives the sample proportion.
