Question

In: Statistics and Probability

1.) The Nile Superstore is conducting a survey of consumer preferences for a new wireless e-book...

1.) The Nile Superstore is conducting a survey of consumer preferences for a new wireless e-book reader. A sample of 170 people reveals that 130 would buy the new reader.

A. What is the 86% confidence interval for the population proportion?

B. The Nile Superstore wants to test the claim that 75% of their customers would buy the new e-reader. Conduct a hypothesis test and use alpha=0.06.

(Please show all work)

Solutions

Expert Solution


Related Solutions

a) If your boss asks you to conduct a survey to determine consumer preferences for PCs...
a) If your boss asks you to conduct a survey to determine consumer preferences for PCs and notebooks, which survey method would you recommend and why? Explain your answers with examples. B) Suggest ONE method to improve the response rates of the survey that you recommended in Part (a). Explain your answers with examples.
In a consumer study investigating preferences for a new packaging material for granola bars, with the...
In a consumer study investigating preferences for a new packaging material for granola bars, with the objective of the test being the comparison between the new packaging material (Package A) and the current packaging material (B). A same-difference test was conducted using 180 randomly-selected consumers at a supermarket. Each consumer was presented with two samples, with the combinations being AA, AB, BA or BB. The following results were obtained. A worked example is in your text book (pg. 103)   (7...
1. If indifference curves cross, this violates the assumption: A. that consumer preferences are complete. B....
1. If indifference curves cross, this violates the assumption: A. that consumer preferences are complete. B. that more of a good is better. C. of transitivity. D. that the more a consumer has of a particular good, the less she is willing to give up of something else to get even more of that good. 2. The concept of utility makes it possible to calculate. A. how much happier one bundle of goods makes a person than some other bundle...
]: A marketing research analyst is interested in determining if consumer preferences between brand 1 and...
]: A marketing research analyst is interested in determining if consumer preferences between brand 1 and brand 2 are different. The research analyst successfully recruits 9 consumers to participate in a focus group to determine preferences. After a conducting series of questionnaires and discussions, the analyst determines that 7 of the consumers prefer brand 1, and the remaining consumers prefer brand 2. The analyst records preferences as +1 for consumers who preferred brand 1, and -1 for people who preferred...
1. Consider a consumer who has income of m = 30 and preferences represented by the...
1. Consider a consumer who has income of m = 30 and preferences represented by the utility function u(x, y) = 2x + 3 ln y. Note that this is quasilinear utility. (a) Initially, suppose that prices are given by px = 12 and py = 1. Find the optimal bundle. This is point “A.” (b) Suppose that the price of y increases to 4. In the notation we have used, this means p 0 y = 2. Find the...
1 - John, a consumer with preferences over oranges (O) and Sauerkraut (S) that give him...
1 - John, a consumer with preferences over oranges (O) and Sauerkraut (S) that give him a utility function U=ln(O) + S. a. Given that John has an allowance of I and faces prices of Po and Ps, use the Lagrangian Multiplier method to find his optimal consumption of O and S. b. Demonstrate whether Sauerkraut is a normal or inferior good for John. c. Find John’s indirect utility function. In a world where I=20, Po = 1 and Ps=2,...
1- Answer the following questions about consumer preferences: a. If Nada prefers Diet Coke to Diet...
1- Answer the following questions about consumer preferences: a. If Nada prefers Diet Coke to Diet Pepsi and Diet Pepsi to regular Pepsi but is indifferent between Diet Coke and Classic Coke, what are her preferences between Classic Coke and regular Pepsi? b. If Hadi purchases a Ford Mustang rather than a Ferrari, what are his preferences between the two cars? c. If Ayya purchases a Ferrari rather than a Ford Mustang, what are her preferences between the two cars?...
1- Answer the following questions about consumer preferences: a. If Nada prefers Diet Coke to Diet...
1- Answer the following questions about consumer preferences: a. If Nada prefers Diet Coke to Diet Pepsi and Diet Pepsi to regular Pepsi but is indifferent between Diet Coke and Classic Coke, what are her preferences between Classic Coke and regular Pepsi? b. If Hadi purchases a Ford Mustang rather than a Ferrari, what are his preferences between the two cars? c. If Ayya purchases a Ferrari rather than a Ford Mustang, what are her preferences between the two cars?...
What is 1. P/E ratio 2. Market-to-Book ratio
What is 1. P/E ratio 2. Market-to-Book ratio
Consider an economy in which the representative consumer preferences are described by U(C, l) = 2C^(1/2)...
Consider an economy in which the representative consumer preferences are described by U(C, l) = 2C^(1/2) + 3l. The total number of hours available to the representative consumer is h = 1, and the market real wage is w. The representative firm produces the final consumption good using the technology function Y = N 1/2 , where N is the labour. Additionally, assume that there is no government in the economy, that is G=0. 1. Describe the relationship between MRSl/C,...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT