The Laurier Company’s brand has a market share of 30%. Suppose that 1,000 consumers of the product are asked in a survey which brand they prefer. What is the probability that more than 32% of the respondents say they prefer the Laurier brand?
Answer to relevant QuestionsA university bookstore claims that 50% of its customers are satisfied with the service and prices.a. If this claim is true, what is the probability that in a random sample of 600 customers less than 45% are satisfied?b. ...Repeat Exercise 9.45 with samples of size 50.Population 1: µ = 280, σ = 25Population 2: µ = 270, σ = 30The manager of a restaurant believes that waiters and waitresses who introduce themselves by telling customers their names will get larger tips than those who don’t. In fact, she claims that the average tip for the former ...The following data represent a random sample of 9 marks (out of 10) on a statistics quiz. The marks are normally distributed with a standard deviation of 2. Estimate the population mean with 90% confidence.7 9 7 5 4 8 ...A survey of 400 statistics professors was undertaken. Each professor was asked how much time was devoted to teaching graphical techniques. We believe that the times are normally distributed with a standard deviation of 30 ...
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