Question 945990: A recent study by the Kemkemian Consumer Group randomly surveyed
1025 women; 29% of them stated that they shopped online several times throughout the year.
a. Find the 99% confidence interval for the proportion of women that shopped online several times throughout the year.
b. What is the point estimate? Also, if a traditional retail store wanted to estimate the proportion of women that shop online to determine the maximum impact on its sales, what is the maximum percentage of women that they should choose?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A recent study by the Kemkemian Consumer Group randomly surveyed
1025 women; 29% of them stated that they shopped online several times throughout the year.
a. Find the 99% confidence interval for the proportion of women that shopped online several times throughout the year.
p-hat = 0.29
ME = 2.5758*sqrt[0.29*0.71/1025] = 0.037
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99%CI:: 0.29-0.037 < p < 0.29+0.037
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b. What is the point estimate? Also, if a traditional retail store wanted to estimate the proportion of women that shop online to determine the maximum impact on its sales, what is the maximum percentage of women that they should choose?
Pt. Est = 0.29
Max Est = 0.29+0.037 = 0.327
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Cheers,
Stan H.
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