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A Retail Store Manager Is Trying to Improve and Control

question 30

Essay

A retail store manager is trying to improve and control the rate at which cashiers sign customers up
for store credit cards.Suppose the manager takes 10 samples,each with 100 observations.The p-bar
value is found to be .05,and the manager does not want a lower limit below .0064.What z-value would this imply,and how confident can she be that the true lower limit is greater than or equal to .0064?


Definitions:

Sample Proportion

The proportion of individuals in a sample that have a particular characteristic, used as an estimate of the proportion in the entire population.

Chi-Square Test

A statistical test used to determine the significance of an observed association between two categorical variables.

Logistic Regression

A statistical model that is used for predicting the probability of a binary outcome based on one or more predictor variables.

P-Value

A measure in statistics that helps to determine the significance of results from a hypothesis test, indicating whether the observed data are improbable under the null hypothesis.

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