What do you value most when shopping in a retail store? According to a survey, 27% of consumers value personalized experience most. Complete parts (a) through (d) below.

a. Suppose that the survey had a sample size of n = 700.

Construct a 95% confidence interval estimate for the population proportion of consumers that value personalized experience most when shopping in a retail store?

b. Based on (a), can you claim that more than a quarter of all consumers value personalized experience most when shopping in a retail store?

c. Repeat parts (a) and (b), assuming that the survey had a sample size of n = 10,000

d. Discuss the effect of sample size on confidence interval estimation.