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.