Question: Refer to Exercise and the Journal of Global Business Spring

Refer to Exercise and the Journal of Global Business (Spring 2002) survey to determine what “Made in the USA” means to consumers. Recall that 106 shoppers at a shopping mall in Muncie, Indiana, responded to the question ‘“Made in the USA’ means what percentage of U.S. labor and materials?” Sixty-four shoppers answered “100%.”
a. Define the population of interest in the survey.
b. What is the characteristic of interest in the population?
c. Use a 90% confidence interval to estimate the true proportion of consumers who believe that “Made in the USA” means 100% U.S. labor and materials.
d. Give a practical interpretation of the interval you used in part c.
e. Explain what the phrase “90% confidence” means for this interval.

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  • CreatedMay 20, 2015
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