Homework answers / question archive / Suppose a marketing company randomly surveyed 200 households and found that in 120 of them, the woman made the majority of the purchasing decisions

Suppose a marketing company randomly surveyed 200 households and found that in 120 of them, the woman made the majority of the purchasing decisions

Statistics

Share With

Suppose a marketing company randomly surveyed 200 households and found that in 120 of them, the woman made the majority of the purchasing decisions. We are interested in the population proportion of households where women make the majority of the purchasing decisions. Identify the following: a. Define the random variables X and Pˆ in words b. Find the point estimate for the population proportion c. Construct a 95% confidence interval for the population proportion of households where the women make the majority of the purchasing decisions. Include the distribution and graph. d. Give the Error Bound e. Explain in complete sentences what the confidence interval represents