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Natali5045456 [20]
3 years ago
6

A cbs news/new york times poll found that 329 out of 763 randomly selected adults said they would travel to outer space in their

lifetime, given the chance. estimate the true proportion of adults who would like to travel to outer space with 92% confidence
Business
1 answer:
iren [92.7K]3 years ago
4 0

Answer:

0.339 < p < 0.461

Explanation:

Given data:

confidence interval is 92%

Randomly selected adults = 329

Total number of adults is 763

\alpha = 1 - 0.92 = 0.08

\frac{\alpha}{2} = \frac{0.08}{2} = 0.04

for alpha = 0.04

z value is = 1.75

p = \frac{329}{763} = 0.43

= p \pm z \times \sqrt{\frac{p \times (1-p)}{N}

= 0.43 \pm 1.75 \tiimes \sqrt{\frac{0.43  \times0.57)}{763}

=0.43 \pm 0.031

0.339 < p < 0.461

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Answer:

Provided in Explanation

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If I use my own assumptions then these will be the Projections:

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The final decision however relies on the Price Elasticity of the Product. If the Product is Price elastic then lowering the Price will lead to a significant rise in Demand. However if the Product is Price inelastic then lowering the Price will not lead to a significant rise in Demand and thus profit margins will be lowered. If the Product is Price inelastic then it is better to increase prices in order to gain more profits. In the case of Unit Elasticity the change in Demand will be at the same proportion as price change so it won’t be of any use to change the Price.

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When an employee does the work necessary to remove physical dirt what food residue
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