Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low....

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Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low....

Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low. Suppose a company wants to test the response to a new flyer and sends it to 1150 people randomly selected from their mailing list of over 200,000 people. They get orders from 142 of the recipients. Use this information to complete parts a through d.

a) Create a 90% confidence interval for the percentage of people the company contacts who may buy something.

b) Explain what this interval means

c) Explain what 95% confidence means

d)The company must decide whether to do a mass mailing. The mailing won't be cost-effective unless it produces at least a 7% return. What does your confidence interval suggest?

math Statistics-And-Probability

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Answer 1

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82 Giventha -o.aaut6us ISO 148 -:01834 138,10 as) .

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Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low....

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Direct mail advertisers send solicitations ("junk mail") to thousands of potential customers in the hope that some will buy the company's product. The response rate is usually quite low....

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