Question
In: Math
A market research firm conducts telephone surveys with a 43% historical response rate. a. What is...
A market research firm conducts telephone surveys with a 43% historical response rate.
a. What is the probability that in a new sample of 400 telephone numbers, at least 160 individuals will cooperate and respond to the questions? In other words, what is the probability that the sample proportion will be at least 160/400 = 0.4?
Calculate the standard error to 4 decimals.
Calculate the probability to 4 decimals, showing your steps along
the way.
P( ≥ ) = P(z ≥ ) =
b. If a follow-up study was completed a year later
with only 64 telephone numbers, what is the probability that the
response rate was between 39% and 48%?
Calculate the standard error to 4 decimals.
Calculate the probability to 4 decimals, showing your steps along
the way.
P( ≤ ≤ ) = P( ≤ z
≤ )
= - =
Solutions
milcah answered 1 year agoRelated Solutions
A market research firm conducts telephone surveys with a 47% historical response rate. If 75 individuals...
A market research firm conducts telephone surveys with a 47%
historical response rate. If 75 individuals are contacted, find the
probability that 36 or less of them will cooperate and respond to
the survey questions.
What Are the Biases in response (Response style) to questionnaire surveys
What Are the Biases in response (Response style) to
questionnaire surveys
If no one conducts research, what will keep the market efficient according to the efficient market...
If no one conducts research, what will keep the market efficient
according to the efficient market hypothesis?
LSPMA (Lake Snell Perry Mermin & Associates) is a firm that conducts market research in order...
LSPMA (Lake Snell Perry Mermin & Associates) is a firm that
conducts market research in order to help companies understand
consumers. This is important; because consumers have different
needs and marketers need to understand how consumers think and feel
so that the best products or services and messages can be provided
to them. Targeting the entire population is too broad. It is
important for marketers to be more targeted by breaking the market
down into meaningful segments. This also helps...
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can...
Fowle Marketing Research, Inc., bases charges to a client on the
assumption that telephone surveys can be completed within 15
minutes or less. If more time is required, a premium rate is
charged. With a sample of 35 surveys, a population standard
deviation of 4 minutes, and a level of significance of .01, the
sample mean will be used to test the null hypothesis H0: μ ≤15.
a. What is your interpretation of the Type II error for this
problem?...
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can...
Fowle Marketing Research, Inc., bases charges to a client on the
assumption that telephone surveys can be completed in a mean time
of 15 minutes or less. If a longer mean survey time is necessary, a
premium rate is charged. Suppose a sample of 35 surveys produces
the data in the Microsoft Excel Online file below. Use a known
σ = 3.9 minutes. Is the premium rate justified?
Hypothesis Test about a Population Mean:
Formulas
Sigma Known Case
Sample Size...
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can...
Fowle Marketing Research, Inc., bases charges to a client on the
assumption that telephone surveys can be completed in a mean time
of 15 minutes or less. If a longer mean survey time is necessary, a
premium rate is charged. A sample of 35 surveys provided a mean
time of 17 minutes. Based upon past studies, the population
standard deviation is assumed known with σ=4. Is the premium rate
justified?
What is the critical value, using a = .01 (to...
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can...
Fowle Marketing Research, Inc., bases charges to a client on the
assumption that telephone surveys can be completed within an
average time of 15 minutes or less. If more time is required, a
premium rate is charged.
The testable hypotheses in this situation are ?0:?=15H0:μ=15 vs.
??:?>15Ha:μ>15
1. Identify the consequences of making a Type I
error.
A. The company charges the customer the premium
rate when they should.
B. The company does not charge the customer the
premium rate...
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can...
Fowle Marketing Research, Inc., bases charges to a client on the
assumption that telephone surveys can be completed in a mean time
of 15 minutes or less. If a longer mean survey time is necessary, a
premium rate is charged. Suppose a sample of 35 surveys produces
the data in the Microsoft Excel Online file below. Use a known
σ = 3.3 minutes. Is the premium rate justified?
Call Time (minutes)
20.3
13.7
16.2
18.1
13.5
17.3
14.6
17.4
18.5...
Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can...
Fowle Marketing Research, Inc., bases charges to a client on the
assumption that telephone surveys can be completed in a mean time
of 15 minutes or less. If a longer mean survey time is necessary, a
premium rate is charged. Suppose a sample of 35 surveys produces
the data in the Microsoft Excel Online file below. Use a known
σ = 3.7 minutes. Is the premium rate justified?
Formulate the null and alternative hypotheses for this
application.
H0: μ _________greater...
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