part a ) Market research Inc. wants to know if shoppers are sensitive to the prices...

part a )

Market research Inc. wants to know if shoppers are sensitive to the prices of items sold in a supermarket. One supermarket owner claims that less than half of his consumers actually know the price of the items they are purchasing. It obtained a random sample of 802 shoppers and found that 378 were able to state the correct price of an item immediately after putting it into their cart. Test at the 7% level whether the owners claim is correct.

part b)

Estimate the proportion of shoppers that know the price of the item they are buying. Use alpha=.05

Does this interval confirm your result from part a ? Why or why not?

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Expert Solution

orchestra answered 1 year ago

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