Recently, a case of salmonella (bacterial) poisoning was traced to a particular brand of ice cream bar,

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Recently, a case of salmonella (bacterial) poisoning was traced to a particular brand of ice cream bar, and the manufacturer removed the bars from the market. Despite this response, many consumers refused to purchase J brand of ice cream bars for some period of time after the event (McClave, personal consulting). One manufacturer conducted a survey of consumers 6 months after the out- f break. A sample of 244 ice cream bar consumers was contacted, and 23 respondents indicated that they would not purchase ice cream bars because of the potential for food J poisoning.
a. What is the point estimate of the true fraction of the entire market who refuse to purchase bars 6 months after I the outbreak?
b. Is the sample size large enough to use the normal I approximation for the sampling distribution of the estimator of the binomial probability? Justify your response.
c. Construct a 95 % confidence interval for the true proportion of the market who still refuses to purchase ice cream bars 6 months after the event.
d. Interpret both the point estimate and confidence interval in terms of this application.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistics For Business And Economics

ISBN: 9780321826237

12th Edition

Authors: James T. McClave, P. George Benson, Terry T Sincich

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