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

question 63

True/False

TABLE 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 Table 8-6, the parameter of interest to the manager is the proportion of potential customers in this sample that recognize the new product.

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Definitions:

Learning Curve

A graphical representation showing how an increase in learning comes from greater experience or the reduction of errors over time with repeated tasks.

8th Unit

The specific item identified as the eighth in a series or sequence, often used to refer to production or inventory items.

First Unit

The initial instance or model of a product or system that serves as a prototype or benchmark for subsequent units.

Multiphase Queuing System

A type of queuing system where customers go through multiple stages or phases of service.