A marketing research firm wishes to estimate the proportion of adults who are planning to buy a

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A marketing research firm wishes to estimate the proportion of adults who are planning to buy a new car in the next 6 months. A simple random sample of 100 adults led to 22 who were planning to buy a new car in the next 6 months.

a. Compute the 95% confidence interval for the proportion of adults who are planning to buy a new car in the next 6 months.

b. Interpret this confidence interval.

c. How large a sample size will need to be selected if we wish to have a 95% confidence interval that is accurate to within 1%.

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Essentials Of Statistics For Business And Economics

ISBN: 9781305081598

7th Edition

Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam

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Question Posted: Jul 26, 2013 03:20 AM

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A marketing research firm wishes to estimate the proportion of adults who are planning to buy a

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n 100 p 022 q 1 022 088 Since the population proportion is not known we use its ...View the full answer

Essentials Of Statistics For Business And Economics

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