SCENARIO 7-8 According to a Survey,only 15% of Customers Who Visited the Visited

question 23

Short Answer

SCENARIO 7-8
According to a survey,only 15% of customers who visited the web site 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 Scenario 7-8,the mean of all the sample proportions of 50 customers who will make a purchase after visiting the web site is .

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Definitions:

Scientific Management

A management theory that analyzes and synthesizes workflows, improving labor productivity and efficiency.

Mass Manufacturing

The production of large quantities of standardized products, often utilizing assembly line technology and methodologies.

Part-Time Employees

Workers who are employed for fewer hours than considered full-time by their employer, often without receiving the full benefits given to full-time employees.

Standardized Wages

A system in which pay rates are set at a consistent amount for similar jobs within an industry or organization, aiming to ensure fairness.