TABLE 9-8 One of the Biggest Issues Facing E-Retailers Is the Ability

question 44

True/False

TABLE 9-8
One of the biggest issues facing e-retailers is the ability to turn browsers into buyers. This is measured by the conversion rate, the percentage of browsers who buy something in their visit to a site. The conversion rate for a company's website was 10.1%. The website at the company was redesigned in an attempt to increase its conversion rates. A samples of 200 browsers at the redesigned site was selected. Suppose that 24 browsers made a purchase. The company officials would like to know if there is evidence of an increase in conversion rate at the 5% level of significance.
-Referring to Table 9-8, the company officials can conclude that there is sufficient evidence that the conversion rate at the company's website has increased using a level of significance of 0.05.

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Definitions:

Sample Variance

A measure of the dispersion or spread in a set of sample data, calculated by averaging the squared deviations from the sample mean.

Sample Median

The value separating the higher half from the lower half of a data sample.

Interval Estimate

A type of estimate that provides a range of values within which a population parameter is expected to lie, often associated with a confidence level.

Efficient

Refers to achieving maximum productivity with minimum wasted effort or expense.