What Do You Value Most When Shopping In A Retail Store According To A Survey 27 Of Consumers Value Personalized Exper 1 (48 KiB) Viewed 116 times
What Do You Value Most When Shopping In A Retail Store According To A Survey 27 Of Consumers Value Personalized Exper 2 (14.26 KiB) Viewed 116 times
What do you value most when shopping in a retail store? According to a survey, 27% of consumers value personalized experience most. Complete parts (a) through (d) below. a. Suppose that the survey had a sample size of n=900. Construct a 90% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store? SAS (Round to four decimal places as needed.) b. Based on (a), can you claim that more than a quarter of all consumers value personalized experience most when shopping in a retail store? O A. Yes, with 90% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. O B. No, because a 90% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim. O C. No, because the confidence interval contains proportion values that are less than 0.25. D. Yes, with 90% confidence because all the values contained in the confidence interval are greater than 0.25. c. Repeat parts (a) and (b), assuming that the survey had a sample size of n = 11,000. Construct a 90% confidence interval estimate for the population proportion of social media users that have purchased an item promoted by a celebrity on a social media site. SAS (Round to four decimal places as needed.) Based on the confidence interval created using a sample size of 11,000, can you claim that more than a quarter of all social media users have purchased an item promoted by a celebrity on a social media site? A. Yes, with 90% confidence because all the values contained in the confidence interval are greater than 0.25. B. Yes, with 90% confidence because the sample proportion is greater than a quarter, and it falls within the limits of the confidence interval estimate. C. No, because a 90% confidence interval is not indicative of a guarantee. A 99.9% confidence interval would be needed to make such a claim. D. No, because the confidence interval contains proportion values that are less than 0.25.
d. Discuss the effect of sample size on confidence interval estimation. Choose the correct answer below. O A. A larger sample size results in a wider confidence interval, holding everything else constant. O B. A larger sample size has no effect on a confidence interval, holding everything else constant. O C. A larger sample size results in a narrower confidence interval, holding everything else constant. O D. It is impossible to compare confidence interval estimates with difference sample sizes because the sample size is part of the formula for finding confidence interval estimate limits.
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