TABLE 7-2 According to a Survey, Only 15% of Customers Who Visited

question 198

Short Answer

TABLE 7-2
According to a survey, only 15% of customers who visited the website of a major retail store made a purchase. Random samples of size 50 are selected from a population of 900. Use the finite population correction factor.
-Referring to Table 7-2, what proportion of the samples will have less than 15% of customers who will make a purchase after visiting the website?

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Definitions:

Net Domestic Product Per Capita

A measure of a country's economic output per person, excluding the costs of depreciation of capital goods. It gives an indication of the average standard of living and economic well-being of the population.

Command-based Economy

An economy where production, investment, prices, and incomes are determined centrally by a government.

Gini Coefficient

A measure of the distribution of wealth within a country.

Reserve Requirement

The minimum amount of cash reserves a commercial bank must hold.