ex_0531 - Exercise on may31 1 To profitably produce a...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Exercise on may31 1. To profitably produce a planned upgrade of a software product you make, you must charge customers $100 more than the current price. Are your customers willing to pay this much? You contact a random sample of 40 customers and find that 11 would pay $100 for the upgrade. Question 1: What is the Wilson estimate for the true proportion of your customers willing to pay $100 for the upgrade? A) 0.11 B) 0.275 C) 0.296 D) 0.40 Question 2: Find the 95% confidence interval for the true proportion of your customers willing to pay $100 for the upgrade. 2. Convincing communities to invest money in public transportation is a hot topic these days. Suppose we are part of a concerned citizens’ group that believes that people are not using car pools. The idea is that the car pool lanes are not being used and therefore we should not add more lanes to the highways. We want statistical evidence that supports our
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern