Question: A drugstore manager needs to purchase adequate supplies of various
A drugstore manager needs to purchase adequate supplies of various brands of toothpaste to meet the ongoing demands of its customers. In particular, the company is interested in estimating the proportion of its customers who favor the country’s leading brand of toothpaste, Crest. The Data sheet of the file P08_15.xlsx contains the toothpaste brand preferences of 200 randomly selected customers, obtained recently through a customer survey. Find a 95% confidence interval for the proportion of all of the company’s customers who prefer Crest toothpaste. How might the manager use this confidence interval for purchasing decisions?
Relevant QuestionsThe same data as in the previous problem are stored in a different format in the last two sheets of the P08_15.xlsx file.a. Use StatTools to find a 95% confidence interval for the proportion who favor Crest from the data in ...Senior management of a large consulting firm is concerned about a growing decline in the organization’s weekly number of billable hours. Ideally, the organization expects each professional employee to spend at least 40 ...A market research consultant hired by a leading soft-drink company is interested in estimating the difference between the proportions of female and male consumers who favor the company’s low-calorie brand over the leading ...Continuing the previous problem, suppose that the officials in this city want to estimate the difference between the proportions, labeled p1 and p2, of taxpayers living in neighborhood 1 whose annual real estate tax payments ...We know that IQs are normally distributed with a mean of 100 and standard deviation of 15. Suppose you want to verify this, so you take 100 random samples of size four each and, for each sample, find a 95% confidence ...
Post your question