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Problem:

The Luxor Computer Company plans to introduce a pyramid-shaped desktop computer. The company is interested in the proportion of prospective customers who find the unusual shape a positive selling point. In a random sample of 350 potential customers, 203 of the respondents indicated that the shape was a positive selling point.

Question 1) What is an estimate of the proportion of prospective customers who find the unusual shape a positive selling point?

Question 2) What is a 90 percent confidence interval for the proportion of prospective customers who find the unusual shape a positive selling point?

Question 3) How many prospective customers would have to be queried for Luxor to be 90 percent certain that its estimated proportion was within five percent of the true value?

Provide thorough explanation of every question given in the problem.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M91149148

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