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sukhopar [10]
2 years ago
7

A marketing representative wants to estimate the proportion of people in a state who like the new design on the packaging of a c

ertain cleaning product. The representative interviewed 100 people at a certain supermarket, and 82 people indicated that they liked the new design. Have the conditions for creating a confidence interval for the population proportion been met?
Business
2 answers:
Lelu [443]2 years ago
4 0

Answer:

The conditions for creating a confidence interval for the population proportion have been met.

Explanation:

There are the following conditions to build a confidence interval for a population proportion:

Sample of size n from a large population

Individuals chosen independent of one another

At least 15 failures and 15 sucesses in the sample.

In this problem, we have that:

Sample of 100 people

They are chosen at random at the market, so it means that the probability that an individual likes the new design is independent of any other individuals.

82 successes and 18 failures.

So yes, the conditions for creating a confidence interval for the population proportion have been met.

Allushta [10]2 years ago
4 0

Answer:

If the representative interviewed 100 people at a certain supermarket, and 82 people indicated that they liked the new design,  the conditions for creating a confidence interval for the population proportion NOT been met because:

  1. the sample was from one source- supermarket.
  2. The number sampled (100 people) in comparison with the population of people in the state is negligible.

Explanation:

When constructing confidence intervals the assumptions and conditions of the central limit theorem must be met in order to use the normal model.

Randomization Condition: The data must be sampled randomly. Is one of the good sampling methodologies discussed in the Sampling and Data chapter being used?

Independence Assumption: The sample values must be independent of each other. This means that the occurrence of one event has no influence on the next event. Usually, if we know that people or items were selected randomly we can assume that the independence assumption is met.

10% Condition: When the sample is drawn without replacement (usually the case), the sample size, n, should be no more than 10% of the population.

Sample Size Condition: The sample size must be sufficiently large.

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What factor is usually agreed upon prior to the submission of a purchase order?
tester [92]

Answer:

number of products to be purchased

Explanation:

A purchase order is prepared by a customer and addressed to a trader.  The document instructs the trader to supply the customer with the goods stated in the purchase order document.

Before a customer writes the purchase order, an agreement is made on the quantity to be ordered. The trader has to confirm that they have the required quantity in the stores, or it will be availed within a reasonable time.

The price is agreed at the quotation stage. The customer first sends an inquiry, which the customer responds to with a quotation.

4 0
2 years ago
XYZ Corp issued $600,000 of 9% , 10-year bonds on June 30,2020, for $562,500. This price provided a yield of 10% on the bonds. I
Rom4ik [11]

Answer:

c. $18, 750

Explanation:

The computation of the amount of interest expense i.e. accrued is shown below:

= Issued amount × yield on the bonds × given months ÷ total number of months in a year

= $562,500 × 10% × 4 months ÷ 12 months

= $18,750

The 4 months is calculated from July 1 to October 31

Hence, the correct option is c. $18,750

5 0
3 years ago
Companies that think carefully about the impact of sensations on product experiences are practicing ________. hedonic consumptio
kolbaska11 [484]

The companies that think carefully about the impact of the sensations are practicing  sensory marketing.

<h3>What is sensory marketing?</h3>

This is the type of marketing that is done to make a product to be appealing to all of the five senses of a person that is to consume to the good.

The sensory  marketing is correct here because the products are to be appealing to the senses.

Read more on sensory marketing here: brainly.com/question/24925953

4 0
2 years ago
Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships.1. The likeliho
Setler [38]

Answer:

1. The likelihood of a payment occurring is probable, and the estimated amount is $1.14 million.

  • Dr Law suit loss 1,140,000
  •     Cr Law suit liability 1,140,000

2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.94 to $1.14 million.

  • Dr Law suit loss 940,000
  •     Cr Law suit liability 940,000

US GAAP allows companies to record probable losses at lowest estimated value.

3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.14 million.

  • no journal entry is required, only a disclosure in the footnotes of the financial statements.

A contingent liability (or loss) that is only possible, but not probable, does not need to be journalized and recorded. It only needs to be disclosed in the footnotes of the financial statements.

4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.14 million.

  • no journal entry is required

A contingent liability (or loss) that is remote, does not need to be journalized or recorded, nor included in the footnotes of the financial statements.

6 0
3 years ago
Match each region of Virginia to its main source of income,
Svetach [21]

Answer:

Piedmont   ⇒ government jobs. The northern part of Virginia is loaded with federal government workers and federal agencies. Even though the Piedmont region is much larger, its main source of income comes from government jobs mainly located at the northern part (near Washington D.C.)

Appalachian Plateau  ⇒ coal mining. Coal is one of Virginia's most valuable natural resources and it is mined in the Appalachian Plateau region (west of the state).

Blue Ridge Mountain  ⇒ farming. The major economic activities in the Blue Ridge Mountain region of Virginia include farming, livestock, lumber and tourism.  

Coastal Plain  ⇒ tourism. The main sources of income include tourism, shipbuilding and military contractors.

Explanation:

Principal economic activities there include livestock raising, farming, tobacco growing, and lumber production. Commercial apple orchards are found in Virginia, Maryland, and Pennsylvania. The Blue Ridge is a major East Coast recreation area noted for its resorts and scenery. The Appalachian Trail winds atop the range.

5 0
2 years ago
Read 2 more answers
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