5. You have a new product idea. Before manufacturing it, you want to be confident that enough people would be interested in buying it. You commission a survey to explore potential interest. Based on a random sample of 1,417 consumers, you find that 61% agree and 39% disagree. You conclude that:

Select one:

a.

865 people expressed interest and the requirements for a binomial experiment were not met

b.

864 people expressed interest and the requirements for a binomial experiment were not met

c.

865 people expressed interest and the requirements for a binomial experiment were met

d.

864 people expressed interest and the requirements for a binomial experiment were met

6. The best choice for a CL is:

Select one:

a.

99% because it is the highest level of confidence

b.

90%, 95%, or 99% depending on the risk level of our decision

c.

95% because it is the most reliable and accepted option

d.

90% because it is the smallest interval with the tightest range

7. When estimatingfor 90% CI andn= 25,Eis calculated by:

Select one:

a.

Multiplying criticalzby SE for x-bar

b.

Multiplying criticalzby SE for p-hat

c.

Multiplying criticaltby SE for x-bar

d.

Multiplying criticaltby SE for p-hat