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:

Antitrust Laws

Legislation enacted to prevent anti-competitive practices, monopolies, and to ensure fair competition in an open-market economy.

Economic Objective

A goal that an economy aims to achieve in a specified period, such as economic growth, low unemployment, or price stability.

Capital Investment

Funds invested in a business or project with the expectation of generating new wealth, acquiring assets, or improving future business prospects.

Sherman Act

A foundational antitrust law in the United States aimed at prohibiting monopolies and fostering competition.