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4) A company is not happy with the margin of error of a customer satisfaction poll...

4) A company is not happy with the margin of error of a customer satisfaction poll the company has carried out. The company polled a random selection of 75 customers. The company discovered that 53% of their customers in this study are satisfied with their product, with a corresponding margin of error of 12 percentage points for a 95% confidence interval estimate for the population proportion of customers who are satisfied with their product

i) The company has been playing with the options on a statistic package. The company suggest using a confidence level of 50%, as it produces a margin of error of 4 percentages points. The company claims that this shows that the estimate “will be much more accurate”. Explain, in your own words, why they are wrong. (3 sentences only)

ii) What do you think the company should do to improve the precision of their estimate? [Hint …. how could they get better data?] (One sentence only)

math   Statistics-And-Probability   
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