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Essentials of Statistics for Business & Economics 9th Edition

Essentials of Statistics for Business & Economics (9th Edition)

Book Edition9th Edition
Author(s)Anderson
ISBN9780357045435
PublisherCengage Learning
SubjectBusiness
Chapter 8, End of Chapter, CASE PROBLEM 1, Exercise 3
Page 407

Young Professional Magazine

 

Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years in a business/professional career. In its two years of publication, the magazine has been fairly successful. Now the publisher is interested in expanding the magazine's advertising base. Potential advertisers continually ask about the demographics and interests of subscribers to Young Professional. To collect this information, the magazine commissioned a survey to develop a profile of its subscribers. The survey results will be used to help the magazine choose articles of interest and provide advertisers with a profile of subscribers. As a new employee of the magazine, you have been asked to help analyze the survey results.

 

Some of the survey questions follow:

1. What is your age?

2. Are you: Male _________ Female _________

3. Do you plan to make any real estate purchases in the next two years? Yes _________ No _________

4. What is the approximate total value of financial investments, exclusive of your home, owned by you or members of your household?

5. How many stock/bond/mutual fund transactions have you made in the past year?

6. Do you have broadband access to the Internet at home? Yes _________ No _________

7. Please indicate your total household income last year.

8. Do you have children? Yes _________ No _________

 

The file Professional contains the responses to these questions. Table 8.8 shows the portion of the file pertaining to the first five survey respondents.

Managerial Report

 

Prepare a managerial report summarizing the results of the survey. In addition to statistical summaries, discuss how the magazine might use these results to attract advertisers. You might also comment on how the survey results could be used by the magazine's editors to identify topics that would be of interest to readers. Your report should address the following issues, but do not limit your analysis to just these areas.

 

Develop 95\% confidence intervals for the proportion of subscribers who have broadband access at home and the proportion of subscribers who have children.

Explanation

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Answer

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