What do you value most when shopping in a retail store? According to a survey, 26% of consumers value personalized ex
Posted: Mon Jul 11, 2022 11:41 am
What do you value most when shopping in a retail store?According to a survey,
26%
of consumers value personalized experience most. Completeparts (a) through (d) below.
Question content area bottom
Part 1
a. Suppose that the survey had a sample size of
n=1000.
Construct a
95%
confidence interval estimate for the population proportion ofconsumers that value personalized experience most when shopping ina retail store?
enter your response here≤π≤enter your response here
(Round to four decimal places as needed.)
Part 2
b. Based on (a), can you claim that more than a quarter ofall consumers value personalized experience most when shopping in aretail store?
A.
No, because the confidence interval contains proportion valuesthat are less than 0.25.
B.Yes, with
95%
confidence because the sample proportion is greater thana quarter, and it falls within the limits of the confidenceinterval estimate.
C.No, because a
95%
confidence interval is not indicative of a guarantee.A 99.9% confidence interval would be needed to make such aclaim.
D.Yes, with
95%
confidence because all the values contained in the confidenceinterval are greater than 0.25.
Part 3
c. Repeat parts (a) and (b), assuming that thesurvey had a sample size of
n=11,000.
Construct a
95%
confidence interval estimate for the population proportion ofsocial media users that have purchased an item promoted by acelebrity on a social media site.
enter your response here≤π≤enter your response here
(Round to four decimal places as needed.)
Part 4
Based on the confidence interval created using a sample sizeof
11,000,
can you claim that more than a quarter of all social media usershave purchased an item promoted by a celebrity on a socialmedia site?
A.Yes, with
95%
confidence because all the values contained in the confidenceinterval are greater than 0.25.
B.Yes, with
95%
confidence because the sample proportion is greater thana quarter, and it falls within the limits of the confidenceinterval estimate.
C.
No, because the confidence interval contains proportion valuesthat are less than 0.25.
D.No, because a
95%
confidence interval is not indicative of a guarantee.A 99.9% confidence interval would be needed to make such aclaim.
Part 5
d. Discuss the effect of sample size on confidence intervalestimation.
Choose the correct answer below.
A.
A larger sample size results in a widerconfidence interval, holding everything else constant.
B.
A larger sample size results in a narrowerconfidence interval, holding everything else constant.
C.
A larger sample size has no effect on aconfidence interval, holding everything else constant.
D.
It is impossible to compare confidence interval estimates withdifference sample sizes because the sample size is part of theformula for finding confidence interval estimate limits.
26%
of consumers value personalized experience most. Completeparts (a) through (d) below.
Question content area bottom
Part 1
a. Suppose that the survey had a sample size of
n=1000.
Construct a
95%
confidence interval estimate for the population proportion ofconsumers that value personalized experience most when shopping ina retail store?
enter your response here≤π≤enter your response here
(Round to four decimal places as needed.)
Part 2
b. Based on (a), can you claim that more than a quarter ofall consumers value personalized experience most when shopping in aretail store?
A.
No, because the confidence interval contains proportion valuesthat are less than 0.25.
B.Yes, with
95%
confidence because the sample proportion is greater thana quarter, and it falls within the limits of the confidenceinterval estimate.
C.No, because a
95%
confidence interval is not indicative of a guarantee.A 99.9% confidence interval would be needed to make such aclaim.
D.Yes, with
95%
confidence because all the values contained in the confidenceinterval are greater than 0.25.
Part 3
c. Repeat parts (a) and (b), assuming that thesurvey had a sample size of
n=11,000.
Construct a
95%
confidence interval estimate for the population proportion ofsocial media users that have purchased an item promoted by acelebrity on a social media site.
enter your response here≤π≤enter your response here
(Round to four decimal places as needed.)
Part 4
Based on the confidence interval created using a sample sizeof
11,000,
can you claim that more than a quarter of all social media usershave purchased an item promoted by a celebrity on a socialmedia site?
A.Yes, with
95%
confidence because all the values contained in the confidenceinterval are greater than 0.25.
B.Yes, with
95%
confidence because the sample proportion is greater thana quarter, and it falls within the limits of the confidenceinterval estimate.
C.
No, because the confidence interval contains proportion valuesthat are less than 0.25.
D.No, because a
95%
confidence interval is not indicative of a guarantee.A 99.9% confidence interval would be needed to make such aclaim.
Part 5
d. Discuss the effect of sample size on confidence intervalestimation.
Choose the correct answer below.
A.
A larger sample size results in a widerconfidence interval, holding everything else constant.
B.
A larger sample size results in a narrowerconfidence interval, holding everything else constant.
C.
A larger sample size has no effect on aconfidence interval, holding everything else constant.
D.
It is impossible to compare confidence interval estimates withdifference sample sizes because the sample size is part of theformula for finding confidence interval estimate limits.