Instruction 8-14 After an Extensive Advertising Campaign, the Manager of a Company

question 63

True/False

Instruction 8-14
After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that recognise a new product. She samples 120 potential consumers and finds that 54 recognise this product. She uses this sample information to obtain a 95% confidence interval that goes from 0.36 to 0.54.
-Referring to Instruction 8-14,it is possible that the true proportion of people that recognise the product is between 0.36 and 0.54.

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Definitions:

Infant Mortality

The rate at which infants under one year old die, often used as an indicator of a country's health and socioeconomic status.

Per Capita Income

The average income earned per person in a specific area or country.

World's Income

The total amount of economic output or earnings generated globally within a specific time period.

Productive Resources

The inputs used in the production of goods and services, typically categorized into land, labor, and capital.