SOLUTION: Surveyors asked a random sample of women in a major city what factor was the most important in deciding where to shop. The results appear in the following table. If the sample size
Question 1176585: Surveyors asked a random sample of women in a major city what factor was the most important in deciding where to shop. The results appear in the following table. If the sample size was 1200, estimate with 95% confidence the proportion of women who identified price and value as the most important factor.
Factor Percentage (%)
Price and Value 40
Quality and selection of merchandise 30
Service 15
Shopping environment 15 Found 2 solutions by ewatrrr, Boreal:Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
Hi
n = 1200, p = .40
95% confidence interval
ME =
ME = = .0277
.40 -.028 < p < .40 +.028
(.37 , .43)
Wish You the Best in your Studies.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website! price and value is 40% of the total (I misread the question)
95%CI half-interval is z*sqrt(p*(1-p)/n)
=1.96*sqrt(..4*.6/1200)
=0.0277
95%CI is (0.3723, 0.4277) units %