Question: A market researcher selects a simple random sample of n = 100 customers from its population of two million customers. After analyzing the sample, she

A market researcher selects a simple random sample of n = 100 customers from its population of two million customers. After analyzing the sample, she states that she has 90% confidence that the mean annual income of its two million customers is between $70000 and $85000. Explain the meaning of this statement.

Step by Step Solution

★★★★★

3.39 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

If the sample of size n 100 are taken then 90 of this includes the tr... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

68-B-A-G-F-A (1318).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Q:

Consider the following process to manufacture bunk beds. Assume that the beds are made in batches of 4, and that there are 40 hours available per week for production. Each bed goes through the...

Q:

A simple random sample of n = 300 full- time employees is selected from a company list containing the names of all N = 5,000 full- time employees in order to evaluate job satisfaction. a. Give an...

Q:

A simple random sample of n = 300 full-time employees is selected from a company list containing the names of all N = 5,000 full-time employees in order to evaluate job satisfaction. a. Give an...

Q:

A simple random sample of n = 300 full-time employees is selected from a company list containing the names of all N = 5,000 full-time employees in order to evaluate job satisfaction. a. Give an...

Q:

A market researcher selects a simple random sample of n = 100 customers from a population of 2 million customers. After analyzing the sample, she states that she has 95% confidence that the mean...

Q:

A market researcher selects a simple random sample of n = 100 customers from a population of 2 million customers. After analyzing the sample, she states that she has 95% confidence that the mean...

Q:

A market researcher selects a simple random sample of n = 100 users of a social media website from a population of over 100 million registered users. After analyzing the sample, she states that she...

Q:

A market researcher selects a simple random sample of n = 100 users of a social media website from a population of over 100 million registered users. After analyzing the sample, she states that she...

Q:

Consider the confidence interval estimate discussed in Problem 1. Suppose the population mean time spent on the site is 36 minutes a day. Is the confidence interval estimate stated in Problem 1...

Q:

Consider the confidence interval estimate discussed in Problem 8.5. Suppose the population mean time spent on the site is 36 minutes a day. Is the confidence interval estimate stated in Problem 8.5...

Q:

A market researcher selects a simple random sample of n = 100 Twitter users from a population of over 100 million Twitter registered users. After analyzing the sample, she states that she has 95%...

Q:

1. A company with working capital of $247,290 and a current ratio of 2.2 pays a $83,740 short-term liability. The amount of working capital immediately after payment is a.$247,290 b.$122,335...

Q:

While going to work this morning off site from his office, an engineer accidently ran a stop sign and was in a car accident that resulted in the death of a 5-year-old child. He has a strong belief in...

Q:

1 c and Der Question Com M y score: 2 6 The graphs o f f and f - 1 are shown. The formula for the function f i s f ( x ) = x 2 + 1 , x 0 . Find a formula for f - 1 .

Q:

The exercise price on one of Flanagan Companys options is $15, its exercise value is $22, and its premium is $5. What are the options market value and the price of the stock?

Q:

Jasper Furnishings has $300 million in sales. The company expects that its sales will increase 12% this year. Jaspers CFO uses a simple linear regression to forecast the companys inventory level for...

Q:

Walter Industries has $5 billion in sales and $1.7 billion in fixed assets. Currently, the companys fixed assets are operating at 90% of capacity. a. What level of sales could Walter Industries have...

Q:

Austin Grocers recently reported the following 2015 income statement (in millions of dollars): Sales................................................................$700 Operating costs including...

Q:

Refer to problem 17-1 and assume that the company had $3 million in assets at the end of 2015. However, now assume that the company pays no dividends. Under these assumptions, what additional funds...

Q:

Define and discuss the semistrong-form EMH. Describe the two sets of tests used to examine the semistrong-form EMH.

Q:

Multiple choice comprehensive problem on relevant costs. The following are the Class Companys unit costs of manufacturing and marketing a high-style pen at an output level of 20,000 units per month:...

Q:

Closing down divisions. Aristide corporation has four operating divisions. During the first quarter of 2009, the company reported total income from operations of $61,000 and the following results for...

Q:

Product mix, constrained resource Westford Company produces three products, A110, B382 and D657. Unit data for the three products follows: All three products use the same direct material, Bistide....

Q:

In 5-card poker, find the probability of being dealt the following hand. Refer to the table. Note that a standard deck of playing Number of cards has 52 cards-4 suits (clubs, diamonds, hearts,...

Q:

Can someone help? For many years businesses have struggled with the rising cost of health care. But recently, the Increases have slowed due to less Ination in health care prices and employees paying...

Q:

Deployment Specialists pays a current (annual) dividend of $1 and is expected to grow at 18% for two years and then at 4% thereafter. If the required return for Deployment Specialists is 7.5%, what...