Driven, a recently released magazine targeted to young professionals, states that 65% of its subscribers have an
Question:
a. The file Driven contains the responses of 196 randomly sampled subscribers of the magazine. The responses are coded “Yes” if the subscriber earns more than $100,000 annually and “No” if the subscriber does not earn more than $100,000 annually. Open the file Driven and create a new variable that has a value of 1 for “yes” and 0 for “no.”
b. Calculate the sample proportion of subscribers who have annual incomes greater than $100,000.
c. How likely is it that a sample proportion greater than the one calculated in part b would be obtained if the population proportion of subscribers earning more than $100,000 annually is 65%?
d. Based on the probability you calculated in part c, should Meuscher advertise in Driven?
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Related Book For
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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