Coupons driving visits. A store randomly samples 603 shoppers over the course of a year and...

Coupons driving visits. A store randomly samples 603 shoppers over the course of a year and finds that 142 of them made their visit because of a coupon they'd received in the mail. Construct a 95% confidence interval for the fraction of all shoppers during the year whose visit was because of a coupon they'd received in the mail.

Step 1: check conditions True or false: Since the data come from a random sample, independence is satisified.

Step 1: check conditions True or false: We have at least 10 successes (142) and 10 failures (603 - 142 = 461), so the success-failure condition is satisfied.

Step 1: check conditions True or false: Since both conditions above are satisfied, we can assume a normal distribution.

Step 2: compute sample statistics What is p̂ (round to the first three decimal places)

Step 3: compute the standard error What is the standard error (SE)? (round to the first four decimal places)

Step 4: find z* For a 95% confidence interval, what is z*?

Step 5: Compute the Margin of Error What is the margin of error (ME)? (round to four decimal places)

Step 6: Compute the confidence interval What is the lower bound of the confidence interval? (round to three decimal places)

Step 6: Compute the confidence interval What is the upper bound of the confidence interval? (round to three decimal places)

Use complete sentences to interpret the confidence interval in the context of this problem.

Solutions

Expert Solution

----------------------------------------------------------------------------------------------

orchestra answered 1 year ago

Next > < Previous

Related Solutions

A store randomly samples 603 shoppers over the course of a year and finds that 142...

A store randomly samples 603 shoppers over the course of a year and finds that 142 of them made their visit because of a coupon they'd received in the mail. A 95% confidence interval for the fraction of all shoppers during the year whose visit was because of a coupon they'd received in the mail is (0.2016, 0.2694) The store management can be 95% confident that any sample of shoppers would have a proportion of visitors whose visit is because...

Site visits to your seller's website on Amazon fluctuate over the course of the year, but...

Site visits to your seller's website on Amazon fluctuate over the course of the year, but the general trend is up. Growth in Q1 relative to Q4 is down by −12.0−12.0% quarter-over-quarter, Q2 is up 5.05.0% relative to Q1, Q3 up by 7.07.0% over Q2, and Q4 is up by 21.021.0% over Q3. During all of Q2 2019 your store received 24972497 visits. How many visits will there be in all of Q2 of 2020? How many visits in total...

The following variable (X) represents the number of coupons used over a 6 month period by a sample of 11 shoppers

The following variable (X) represents the number of coupons used over a 6 month period by a sample of 11 shoppers: 80, 63, 70, 69, 70, 54, 61, 70, 65, 76, 60. Use this data to compute: The mean, the median, the mode, the range, the variance, the standard deviation, the 80th percentile, the sum of the values of (X), and the sum of the squared deviations of each value of (X) from the mean. In addition, please explain what...

The following events occurred over the course of a year at Bagby Corp., which uses a...

The following events occurred over the course of a year at Bagby Corp., which uses a job order costing system: 1. Direct materials purchases totaled $460,000. 2. $230,000 of indirect materials were used in production. Bagby uses a separate Supplies Inventory account for indirect materials. 3. $415,000 of direct materials were used in production. 4. The direct labor payroll was $940,000 (credit Wages Payable). 5. Other manufacturing overhead costs incurred during the year totaled $540,000. 6. Bagby applies overhead based...

1. can you explain how an overall increase in A/R over the course of a year...

1. can you explain how an overall increase in A/R over the course of a year effects the statement of cash flows for that year, and what it indicates? 2. can you explain how depreciation expense is reported in the statement of cash flows? 3. can you explain how an overall decrease in Utilities Payable during the year effects the statement of cash flows for that year, and what it indicates?

The table below contains various grades for three students obtained over the course of the year....

The table below contains various grades for three students obtained over the course of the year. Assuming that all grades are equally weighted, generate a new table that displays the name of the student, their average grade, and the number of grades they had in their record. import numpy as np np.random.seed(seed=0) Students = ['Samir','Mark','Zoe','Andrew','Rupert'] Grades_Data = [] for i in range(100): Student_Index = np.random.randint(0,len(Students)) Student = Students[Student_Index] Grade = round(np.random.normal(loc=75,scale=15),1) Grades_Data.append([Student,Grade]) import pandas as pd Grades_df = pd.DataFrame(data=Grades_Data,columns=['Student','Grade']) Grades_df.iloc[0:10]

The following table is a summary of randomly chosen student evaluations of faculty at a university over a three-year period.

QUESTION 14 Questions 14 through 18 refer to the following: The following table is a summary of randomly chosen student evaluations of faculty at a university over a three-year period. The researcher is interested in whether the distribution of evaluations differs by faculty rank. Rank Evaluation Assistant Professor Associate Professor Professor Total Above Average 42 39 36 117 Below Average 38 31 54 123 Total 80 70 90 240 If faculty rank and evaluation are independent, how many assistant professors...

Chic Sales is a high-end consignment store with several locations in the metro area. The company noticed a decrease in sales over the last fiscal year.

WHICH STORE SHOULD BE CLOSED AND WHY? Simple Regression Models Case Study: Mystery Shoppers Chic Sales is a high-end consignment store with several locations in the metro area. The company noticed a decrease in sales over the last fiscal year. Research indicated customer satisfaction had decreased and the owner, Pat Turner, decided to create a mystery shopper program. The mystery shopper program lasted over a 6-month period, employing several loyal and new customers assigned to each location. Surveys were on...

Subjects