TABLE 8-6 After an Extensive Advertising Campaign,the Manager of a Company Wants

question 8

True/False

TABLE 8-6
After an extensive advertising campaign,the manager of a company wants to estimate the proportion of potential customers that recognize a new product.She samples 120 potential consumers and finds that 54 recognize this product.She uses this sample information to obtain a 95% confidence interval that goes from 0.36 to 0.54.
-True or False: Referring to Table 8-6,95% of the time,the proportion of people that recognize the product will fall between 0.36 and 0.54.

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Definitions:

Product Storage

The act of keeping goods or materials in a designated space until they are needed for usage or sale.

Waste

Unwanted or unusable materials, substances, or by-products produced through human activity or industrial processes.

Long-term Contracts

Agreements between two or more parties for the supply of goods or services over an extended period.

Variety

The presence of multiple different items or options within a collection, offering a selection to choose from.