A Random Sample of 60 Elements Was Selected from a Population

question 15

Short Answer

A random sample of 60 elements was selected from a population of size 400. The sample proportion
a.Estimate the standard error of the proportion.
b.Develop an approximate 95% confidence interval for the population proportion.

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Definitions:

Centralized Marketing Structure

An organizational approach where marketing decision-making and processes are managed from a single, central point within the company.

Marketing Activities

Tasks and strategies businesses use to promote and sell their products or services to their target audience.

Informal Controls

Unofficial regulations and norms that guide behavior within organizations and groups, often based on culture or social interactions.

Marketing Implementation

The process of executing a marketing plan, turning strategies and plans into actions to achieve strategic marketing objectives.