SCENARIO 7-4 According to a Survey,only 15% of Customers Who Visited the Visited

question 95

Short Answer

SCENARIO 7-4
According to a survey,only 15% of customers who visited the web site of a major retail store made a purchase.Random samples of size 50 are selected.
-Referring to Scenario 7-4,the mean of all the sample proportions of customers who will make a purchase after visiting the web site is .

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Definitions:

Main Purpose Doctrine

A legal principle that a promise to pay the debt of another does not need to be in writing if the guarantor's main purpose benefits themselves.

Statute of Frauds

A legal principle requiring certain contracts to be in writing and signed by the party to be charged to be enforceable.

Oral Contract

An agreement between parties that is spoken, not written, but is still legally binding.

Customized Goods

Products that are specifically made according to the specifications or requirements of a customer.