Question
In: Statistics and Probability
Ads A company is willing to renew its advertising contract with a local radio station only...
Ads A company is willing to renew its advertising contract with a local radio station only if the station can prove that more than 20% of the residents of the city have heard the ad and recognize the company’s product. The radio station conducts a random phone survey of 400 people. a. What are the hypotheses? b. The station plans to conduct this test using a 10% level of significance, but the company wants the significance level lowered to 5%. Why? c. For which of the two levels of significance will the power of this test be higher? Why? d. They finally agree to use α = .05, but the company proposes that the station call 600 people instead of the 400 originally proposed. Will that make the risk of an acceptance error higher or lower? Explain. Testing the ads. The company contacts 600 people selected at random, and only 133 remember the ad. e. Calculate a 95% confidence interval for the proportion of all residents who remember the ad. f. Calculate the P-value for testing the hypotheses given in the last question. g. Should the company renew the contract? Use the confidence interval and P-value to justify your conclusion.
Solutions
orchestra answered 2 years agoRelated Solutions
Ads: A company is willing to renew it advertising contact with a local radio station only...
Ads: A company is willing to renew it
advertising contact with a local radio station only if the station
can prove that more than 20% of the residents of the city heard the
ad and not recognize the company’s product. The radio station
conducts a random phone survey of 400 people.
A) What are the hypotheses
B) The station plans to conduct this test using a 10%
level of significance, but the company wants the significance level
lowered to 5%?...
A company is willing to renew its advertising campaign with a local radio station only if...
A company is willing to renew its advertising campaign with a
local radio station only if the station can demonstrate that there
is evidence that more than 20% of the residents of the city have
heard the ad and recognize the company’s product. The station
contacts 500 residents, and finds that 114 remember the ad.
(a) The station plans to conduct a test at ? = 0.10, but the
company wants ? lowered to 0.05. Why?
(b) Use the p-value...
Two advertising media are being considered for the promotion of a product. Radio ads cost $480...
Two advertising media are being considered for the promotion of
a product. Radio ads cost $480 each, while newspaper ads cost $550
each. The total budget is $20,000 per week. The total number of ads
should be at least 30, with a max of 5 newspaper ads. Each
newspaper ad reaches 8,000 people, while each radio ad reaches
5,000 people.
Let R = # of radio ads
Let P = # of newspaper ads
Max 5000 R + 8000P
s....
Acme Advertising has a $10,000 budget for a combination of television ads ($300 each) and radio...
Acme Advertising has a $10,000 budget for a combination of
television ads ($300 each) and radio ads ($125 each) for a new
client (a sporting goods store) and wants to maximize total reach.
Television ads reach 5,000 people while radio ads reach 3,500
people.
The television ads are to be run during local college basketball
games with the goal of running at least 5 ads and no more than 20
ads. Radio ads will be run at the same time...
1. A retail store runs an advertising campaign on a radio station. They decide to measure...
1. A retail store runs an advertising campaign on a radio
station. They decide to measure the effectiveness of the campaign
by measuring the increase in customers compared to previous days.
They choose 35 days at random, and find the average number of
customers to have increased by 83.3 customers per day.
Historically, the number of customers per day has a standard
deviation of 17.5 customers. What is the 95% confidence interval
for the population mean increase in customers?
Select...
An advertising agency that serves a major radio station wants to estimate the mean amount of...
An advertising agency that serves a major radio station wants to
estimate the mean amount of time that the station's audience spends
listening to the radio daily. From past studies, the standard
deviation is estimated as 48 minutes. A. What sample size is needed
if the agency wants to be 95% confident of being correct to within
+/-5 minutes? A sample size of ____ listeners is needed. ( Round up
to the nearest integer.) B. If 99% confidence is desired,...
Listed below are the data for a local radio station. This shows the number of weekly...
Listed below are the data for a local radio station. This shows
the number of weekly radio advertisements and the projected weekly
sales resulting (adjusted by industry).
Weekly Radio Spots
Sales ($100s)
4
75
10
85
2
62
6
81
8
81
2
57
10
95
6
72
8
89
4
69
Show the data in a scatterplot, to demonstrate the relationship
between the two variables.
Compute and interpret the correlation coefficient.
Listed below are the data for a local radio station. This shows the number of weekly...
Listed below are the data for a local radio station. This shows
the number of weekly radio advertisements and the projected weekly
sales resulting (adjusted by industry). Weekly Radio Spots
Sales
Weekly Radio Spots
Sales ($100s)
4
75
10
85
2
62
6
81
8
81
2
57
10
95
6
72
8
89
4
69
a. Show the data in a scatterplot, to demonstrate the
relationship between the two variables.
b. Compute and interpret the correlation coefficient.
FIRMCo is planning an advertising campaign, budgeted at $70000. Each 1000 dollars spent on radio ads,...
FIRMCo is planning an advertising campaign, budgeted at $70000.
Each 1000 dollars spent on radio ads, results in 70 new customers.
Similarly, each 1000 dollars spent on TV ads yield 105 new
customers. Each radio ad costs $250, and each TV ad costs $1500.
The combined number of ads used in the campaign cannot exceed 75.
The amount spent on radio ads, and the amount spent on TV ads
cannot differ from one another by more than $15000. Define the...
Two advertising media are being considered for promotion of a product. Radio ads cost $400 each,...
Two advertising media are being considered for promotion of a
product. Radio ads cost $400 each, while Newspaper ads cost $600
each. The total budget is $7,200 per week. The total number of ads
should be at least 15, with at least 2 of each type. Each newspaper
ad reaches 6,000 people, while each radio ad reaches 2,000 people.
The company wishes to maximize the number of people that are
reached while meeting all the constraints stated. Write the LP...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Suppose you are trying to determine the capacity (in gallons) of the gas tank needed on...
- List the arithmetic operators used in BASIC and state their priorities of execution in a statement....
- Describe the espoused values of a company you have worked for (or been exposed to -...
- Can you explain to me the differnces in how we paid for the health care (access...
- Discuss proactive and defensive marketing in context to the company position in the hypothetical market structure...
- Write a java code that could be used to show the simulation of a tornado. use...
- A Canadian company issues an 8-year term bond with face value of $1,000 and 6% coupon...
ADVERTISEMENT