After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that r

Question

2 years ago

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After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that r

ecognize a new product. She samples 120 potential consumers and finds that 54 recognize this product. She uses this sample information to obtain a 95% confidence interval that goes from 0.36 to 0.54.
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 b. False
2. Referring to Problem , point estimate of the population proportion is = 0.45.
a. True b. False
3. Referring to problem , the sample proportion is = 0.45.
a. True 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
a. True b. False
5. Referring to Problem , the parameter of interest is 54/120 = 0.45.
a. True b. False

Business

1 answer:

spayn [35] · Answer 1 · 2022-10-06T08:00:05+03:00

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.