Recently, a case of salmonella (bacterial) poisoning was traced to a particular brand of ice cream bar,
Question:
a. What is the point estimate of the true fraction of the entire market who refuse to purchase bars 6 months after I the outbreak?
b. Is the sample size large enough to use the normal I approximation for the sampling distribution of the estimator of the binomial probability? Justify your response.
c. Construct a 95 % confidence interval for the true proportion of the market who still refuses to purchase ice cream bars 6 months after the event.
d. Interpret both the point estimate and confidence interval in terms of this application.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Statistics For Business And Economics
ISBN: 9780321826237
12th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich
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