A Market Research Firm Has Come Up with Two Coupon

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Examlex · Accepted Answer

The Answer is The parameter of interest in this situation is the difference in population proportions. The
general format for any confidence interval estimate is:
Point estimate ± critical value (standard error).

The parameter of interest in this situation is the difference in population proportions. The general format for any confidence interval estimate is: Point estimate ± critical value (standard error). This indicates that we estimate the difference in proportions of redeemed coupons to be between -0.1331 and +0.0531. Thus, the range of possibilities for the difference in population proportions ranges from over 0.13 more for coupon 2 versus coupon 1 all the way to over 0.05 more for coupon 1 versus coupon 2. Therefore, since the interval crosses zero, we are unable to conclude that a difference exists between the two coupons with respect to the proportions that will be redeemed.

This indicates that we estimate the difference in proportions of redeemed coupons to be between -0.1331
and +0.0531. Thus, the range of possibilities for the difference in population proportions ranges from over
0.13 more for coupon 2 versus coupon 1 all the way to over 0.05 more for coupon 1 versus coupon 2.
Therefore, since the interval crosses zero, we are unable to conclude that a difference exists between the
two coupons with respect to the proportions that will be redeemed.

A Market Research Firm Has Come Up with Two Coupon

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A Market Research Firm Has Come Up with Two Coupon

Essay

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified