QUESTION 7 Suppose a new product is to be launched on the market. To gain an idea of the potential market size, a sample of people selected at random are to be shown the product and asked if they would be willing to buy it. A 90% condence interval for the proportion of all people who would buy the product will then be calculated based on the realized sample proportion of these people who would be willing to buy the product. In this case the largest sample size that would be required to allow us to be 90% condent that the realized sample proportion is within 0.02 of the true population proportion of all people who would be willing to buy the product is (rounded up to the nearest integer) O 1.692 O 5.250 O 42 O 6.765 QUESTION 3 It is known that 80% of people suffering from a particular disease are cured by a certain medication. Using the normal approximation to the distribution of the sample proportion (and ignoring continuity correction), the probability that out of a random sample of 400 people with the disease less than 300 (Le. less than a proportion of 0.75)will be cured by using the medication is 0 0.9938 0 0.0062 0 0.4938 0 0.8944