(Answered) Part ia national department store wants to know the

Statistics

Part I.

A national department store wants to know the proportion of customers that leave the store with a purchase. A random sample of 75 customers is taken and 51 leave the store with a purchase.

1. Construct a 90% confidence interval for the proportion of customers that leave with a purchase.

2. What is the margin of error at 90% confidence?

3. Construct a 90% confidence interval for the proportion of customers who leave with a purchase for a random sample of 120 customers. How does the size of this interval change from the interval in #1 above?

4. How large of a sample is required to be taken for the error of the estimate (margin of error) to be within + .04 of the population proportion?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92760500
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Assuming that the bank wants assets with high yields and

Assuming that the bank wants Assets with High Yields and Liabilities with Low Costs then what decisions would the bank make for the Interest Rates on both Loans (Fixed Rate Corporate, Floating Rate Corporate, Installment ...

Explain the similarities and differences between bagging

Explain the similarities and differences between "bagging" and "boosting" in predictive analytics.

1 a certain compact disc player randomly plays each of 10

1. A certain compact disc player randomly plays each of 10 songs on a CD. Once a song is played, it is not repeated until all the songs on the CD have been played. In how many different ways can the CD player play the 10 ...

1 summary statistics for returns on two stocks x and y are

1. Summary statistics for returns on two stocks X and Y are listed below. Mean Variance Stock X 2.83% 0.006000 Stock Y 5.98% 0.003000 The covariance of returns on stocks X and Y is 0.001500. Consider a portfolio of 80% s ...

Please show all worka pair of dice is tossed and the face

Please show all work. A pair of dice is tossed and the face number of each die is recorded. Assuming the dice are fair, what's the probability of the sum of the die faces showing is even?

What can a continuum of elements in terms of strategic

What can a continuum of elements in terms of strategic planning mean to performance to small-medium enterprises?

Please help me solve thisuse a normal approximation to find

Please help me solve this. Use a normal approximation to find the probability of the indicated number of voters. In this? case, assume that 157 eligible voters aged? 18-24 are randomly selected. Suppose a previous study ...

What is the annual yield to maturity ytm of a 10-year bond

What is the annual yield to maturity (YTM) of a 10-year bond, $1000 par, 8% coupon paid semi-annually, currently selling for $975?

A local postal carrier distributes first-class letters

A local postal carrier distributes first-class letters, advertisements, and magazines. For a certain day, she distributed the following number for each type of item. Delivered to First Class Letters Ads Magazines Home ...

Five percent of the eyeglasses sold at an optical retailer

Five percent of the eyeglasses sold at an optical retailer have tinted lenses. Forty pairs of glasses are sold on a particular day and six have tinted lenses. Identify n, p, and x.

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert