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

question 64

True/False

SCENARIO 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.
-Referring to Scenario 8-6,the parameter of interest is 54/120 = 0.45.

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Definitions:

Ethanol

A volatile, flammable, colorless liquid, commonly known as alcohol, used in beverages and as a solvent or fuel.

Complete Combustion

A chemical process in which a compound, usually a hydrocarbon, reacts fully with an abundant supply of oxygen to produce carbon dioxide, water, and energy.

Ethane Gas

A colorless, odorless gas that is the simplest alkane, with the formula C2H6, used as a fuel and a petrochemical feedstock.