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

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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. A) 1384 . 0 275 . 0 ± B) 1348 . 0 296 . 0 ± C) 1384 . 0 296 . 0 ± D) 1348 . 0 275 . 0 ± 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
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ex_0531 - Exercise on may31 1. To profitably produce a...

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