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?
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