A Local Pizza Company Is Interested in Estimating the Percentage

question 168

True/False

A local pizza company is interested in estimating the percentage of customers who would take advantage of a coupon offer. To do this, they give the coupon out to a random sample of 100 customers. Of these, 45 actually use the coupon. At the 95 percent confidence level it would be appropriate for the manager to conclude that possibly as many as 50 percent of his customers will redeem the coupon.

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Definitions:

Linear Regression Equation

A formula to determine the line of best fit in a dataset, depicting how the dependent variable is influenced by one or more independent variables.

Slope

A measure of the steepness or incline of a line, typically represented as the ratio of the rise over the run between two points on a graph.

Y-intercept

The Y-intercept of a linear equation is the point where the line crosses the Y-axis on a graph, representing the value of the dependent variable when the independent variable is zero.

Correlation

A statistical measure that expresses the extent to which two variables change together, indicating the strength and direction of their relationship.