The National Retail Federation conducted a national survey of 8,526 consumers on September 19, 2009. Among the
Question:
The National Retail Federation conducted a national survey of 8,526 consumers on September 1–9, 2009. Among the findings reported were that:
• 29.6% of those surveyed said that the state of the U.S. economy would affect their Halloween spending plans;
• the average amount that the respondents said they expect to spend on Halloween is $56.31.
a. Are these numbers parameters or statistics? Explain.
b. Determine and interpret a 95% confidence interval based on the 29.6% value given in the article.
c. What additional information would you need to determine a 95% confidence interval based on the $56.31 value given in the article?
Step by Step Answer:
Introduction To Statistical Investigations
ISBN: 9781118172148
1st Edition
Authors: Beth L.Chance, George W.Cobb, Allan J.Rossman Nathan Tintle, Todd Swanson Soma Roy