SOLUTION: To profitably produce a planned upgrade of a software product you make, you must charge customers $100. Are
your customers willing to pay this much? You contact a random sample of
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-> SOLUTION: To profitably produce a planned upgrade of a software product you make, you must charge customers $100. Are
your customers willing to pay this much? You contact a random sample of
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Question 1105990: To profitably produce a planned upgrade of a software product you make, you must charge customers $100. Are
your customers willing to pay this much? You contact a random sample of 50 customers and find that 17 would pay
$100 for the upgrade. Find a 95% confidence interval for the proportion of all of your customers (the population)
who would be willing to buy the upgrade for $100. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! 95% CI interval for a proportion (of 0.34) is +/- z(0.975)*sqrt(0.34*0.66)/50
This is +/-1.96* 0.067=+/-0.131
the interval is the mean +/- 0.131
(0.21, 0.47)
