16. When Bargaining Pays Off According to a survey done by Consumer Reports, you should always try...

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16. When Bargaining Pays Off According to a survey done by Consumer Reports, you should always try to negotiate for a better deal when shopping or paying for services.20 Tips include researching prices at other stores and on the Internet, timing your visit late in the month when salespeople are trying to meet quotas, and talking to a manager rather than a salesperson. Suppose that random samples of 200 men and 200 women are taken, and that the men were more likely than the women to say they “always or often” bargained (30%

compared with 25%).

a. Construct a 95% confidence interval for the difference in the proportion of men and women who say they “always or often” negotiate for a better deal.

b. Do the data indicate that there is a difference in the proportion of men and women who say they “always or often” negotiate for a better deal? Explain.

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Introduction To Probability And Statistics

ISBN: 9780357114469

15th Edition

Authors: William Mendenhall Iii , Robert Beaver , Barbara Beaver

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