A certain business concern needs to obtain at least 20% of the market in order to make

Question:

A certain business concern needs to obtain at least 20% of the market in order to make a profit. A random sample of 200 prospective buyers is asked whether they will purchase the product. What should the company conclude if (find the 95% CI in each case, in addition to performing the null hypothesis test):

a. 26 of those asked said they would buy the product?

b. 46 of those asked said they would buy the product?

c. 58 of those asked said they would buy the product?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introductory Statistics For The Behavioral Sciences

ISBN: 9780470907764

7th Edition

Authors: Joan Welkowitz, Barry H. Cohen, R. Brooke Lea

Question Posted: