A Cambridge Consumer Credit Index nationwide telephone survey of 1000 people found that most Americans are not easily swayed by the lure of reward points or rebates when deciding to use a credit card or pay by cash or check. The survey found that 2 out of 3 consumers do not even have credit cards offering reward points or rebates. Explain why you would be reluctant to use this information to construct a confidence interval estimating the true proportion of consumers who do not have credit cards offering reward points or rebates.
Answer to relevant QuestionsConstruct 90% confidence intervals for the binomial parameter p for each of the following pairs of values. Write your answers on the chart. f. Explain the relationship between the answers to parts a and b. g. Explain the ...The “rule of thumb” stated on page 434 indicated that we would expect the sampling distribution of p_ to be approximately normal when “n = 20 and both np and nq are greater than 5.”What happens when these guidelines ...State the null hypothesis, Ho, and the alternative hypothesis, Ha, that would be used to test these claims: a. More than 60% of all students at our college work part-time jobs during the academic year. b. No more than ...An insurance company is concerned that garage A charges more for repair work than garage B charges. It plans to send 25 cars to each garage and obtain separate estimates for the repairs needed for each car. a. How can the ...Adverse side effects are always a concern when testing and trying new medicines. Placebo-controlled clinical studies were conducted in patients 12 years of age and older who were receiving “once-a-day” doses of Allegra, ...
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