Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company surveys its consumer base about a particular product X. 2902 people respond, and 645 of them state that they like and will continue

A company surveys its consumer base about a particular product X. 2902 people respond, and 645 of them state that they like and will continue to use product X. Find the 90% confidence interval for the proportion of customers who will continue buying product X. Finding this interval is important to the company as they are wondering if they should continue carrying product X next year. Report the lower bound of that interval as a percentage (%). 1- Only round your final answer. Round your final answer to 3 decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Probability And Statistics

Authors: Morris H. DeGroot, Mark J. Schervish

4th Edition

9579701075, 321500466, 978-0176861117, 176861114, 978-0134995472, 978-0321500465

Students also viewed these Mathematics questions