In the page margin, we list 15 companies that have historically performed well in the food, drink, and tobacco industries. Consider the random numbers given in the random number table of Table 7.1(a) on page 260. Starting in the upper left corner of Table 7.1(a) and moving down the two leftmost columns, we see that the first three two- digit numbers obtained are: 33, 03, and 92. Starting with these three random numbers, and moving down the two leftmost columns of Table 7.1( a) to find more two- digit random numbers, use Table 7.1( a) to randomly select five of these companies to be interviewed in detail about their business strategies.
Answer to relevant QuestionsAgain consider the survey of 350 Bank of America customers discussed in Exercise 7.29, and assume that 48% of Bank of America customers would currently express customer delight. That is, assume p = .48. Find: a The ...Explain how to take a systematic sample of 100 companies from the 1,853 companies that are members of an industry trade association. Suppose that for a sample of n = 11 measurements, we find that x-bar = 72 and s = 5. Assuming normality, compute confidence intervals for the population mean m with the following levels of confidence: a. 95% b. 99% c. 80% ...Explain what is meant by the margin of error for a confidence interval. What error are we talking about in the context of an interval for μ? a. What does a population proportion tell us about the population? b. Explain the difference between p and p̂. c. What is meant when a public opinion poll’s margin of error is 3 percent?
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