Essay
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The sales manager for a hardware wholesaler finds that 229 of the previous 500 calls to hardware store owners resulted in new product placements.Assume that the 500 calls represent a random sample.
-Give a careful verbal interpretation of the 95% confidence interval for the long-run proportion of new product placements.
Correct Answer:
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We are 95% confident that the true long ...View Answer
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Correct Answer:
Verified
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