42. According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in

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42. According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in the United States gets returned (BusinessWeek, January 15, 2007). A Houston department store sampled 80 items sold in January and found that 12 of the items were returned.

a. Construct a point estimate of the proportion of items returned for the population of sales transactions at the Houston store.

b. Construct a 95% confidence interval for the proportion of returns at the Houston store.

c. Is the proportion of returns at the Houston store significantly different from the returns for the nation as a whole? Provide statistical support for your answer.

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Essentials Of Statistics For Business And Economics

ISBN: 9780324568608

5th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

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