After an extensive advertising campaign, the manager of a company wants to estim

Question

After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that recognize a new product. She samples 120 potential consumers and finds that 54 recognize this product. She wants to use this sample information to determine various confidence intervals Referring to scenario 3, which statistical table is needed to determine a particular confidence interval? A) F Table B) Chi-Square "Goodness of Fit" Table C) Critical Values of t Table D) Z Table Referring to Scenario 3, a 99% confidence interval for the proportion of consumers that recognize this product is from _________ to ________. A) 0.27 to 0.38 B) 0.30 to 0.55 C) 0.33 to 0.57 D) 0.38 to 0.48 Referring to scenario 3, a 95% confidence interval for the proportion of consumers that recognize this product is from ________ to _________ A) 0.31 to 0.42 B) 0.32 to 0.45 C) 0.34 to 0.51 D) 0.36 to 54 Referring to Scenario 3, a 90% confidence interval for the proportion of consumers that recognize this product is from _______ to ________ A) 0.31 to 0.49 B) 0.38 to 0.52 C) 0.39 to 0.57 D) 0.41 to 0.55

Explanation / Answer

23.
Z table

24.
Confidence Interval For Proportion
CI = p ± Z a/2 Sqrt(p*(1-p)/n)))
x = Mean
n = Sample Size
a = 1 - (Confidence Level/100)
Za/2 = Z-table value
CI = Confidence Interval
No. of success(x)=54
Sample Size(n)=120
Sample proportion = x/n =0.45
Confidence Interval = [ 0.45 ±Z a/2 ( Sqrt ( 0.45*0.55) /120)]
= [ 0.45 - 2.576* Sqrt(0.002) , 0.45 + 2.58* Sqrt(0.002) ]
= [ 0.333,0.567]

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