Question

: In a marketing survey, a random sample of 730 women shoppers revealed that 628 remained loyal to their favorite supermarket during the past year (i.e. did not switch stores). (Source: Trends in the United States: Consumer Attitudes and the Supermarket, The Research Department, Food Marketing Institute). a) Let p represent the proportion of all women shoppers who remain loyal to their favorite supermarket. Find a point estimate for p.

Answer 1

Answer:

The point estimate for p is 0.86.

Step-by-step explanation:

We are given that in a marketing survey, a random sample of 730 women shoppers revealed that 628 remained loyal to their favorite supermarket during the past year (i.e. did not switch stores).

Let p = proportion of all women shoppers who remain loyal to their favorite supermarket

Now, the point estimate for the population proportion (p) is represented by ;

      Point estimate for p =  $\hat p$  =  $\frac{X}{n}$

where, X = Number of women shoppers who remained loyal to their favorite supermarket during the past year = 628

            n = sample of women shoppers = 730

So, point estimate for p ($\hat p$)  =  $\frac{X}{n}$  

                                             =  $\frac{628}{730}$  = 0.86