A Marketing Strategist Would Like to Estimate the Difference Between

question 3

Essay

A marketing strategist would like to estimate the difference between the proportion of men who list "Action" as their favorite movie genre and the proportion of women who list "Action" as their favorite genre. The strategist gathers a random sample of 300 men and 200 women. Of the men, 156 indicate that "Action" is their favorite genre; of the women, 87 indicate that "Action" is their favorite.
a.Determine if the large sample confidence interval procedures can be used for estimation.
b.Create a 95% confidence interval for the difference of the population proportions.
c.Interpret the confidence interval.
d.Based on the confidence interval, is it possible that the two population proportions are equal?

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Definitions:

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy in a year, intended to adjust the nominal GDP to reflect changes in price levels.

National Income

The total value of all goods and services produced by a country's economy over a specific period, often used as a measure of economic health.

Wages

Financial compensation paid by an employer to an employee for their labor, typically calculated on an hourly, daily, or piecework basis.

Salaries

Regular payments made to employees for their labor, typically on a monthly or biweekly basis, not directly related to the specific hours worked.