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

question 53

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, 90% of the samples will have less than what percentage of customers who will make a purchase after visiting the website?

---

Definitions:

Lack of Confidence

A state where consumers or investors are hesitant to spend or invest due to pessimism about economic conditions.

Ultimatum Game

A game in experimental economics where two players decide on how to divide a sum of money; the first player proposes a division, and the second player can either accept or reject it.

Fairness

The equity or impartiality in treatment, judgments, and allocation of resources among individuals or groups.

Maximization

Maximization involves choosing the best feasible option, given a set of constraints, to achieve the highest possible level of an objective, such as profit, satisfaction, or efficiency.