Question

A 90% confidence interval is created for the proportion of consumers which prefer your product over...

A 90% confidence interval is created for the proportion of consumers which prefer your product over the competitors. This interval is found to be 46% to 64%. a. Using this interval, is it correct to say with 90% confidence that more consumers prefer your product? Explain your reasoning. You are a dishonest statistician and want to ensure that you can say more consumers prefer your product than they do a competitor’s b. What are two ways that you can manipulate these results to get a more favorable outcome which according to the data is statistically correct, (i.e. not just lying)?

Homework Answers

Answer #1

a) As 50% lies inside the confidence interval, and the whole confidence interval does not lie above 50%, from the given confidence interval, we dont have sufficient evidence that more consumer prefer our product.

b) We can either manipulate the results by

  • decreasing the confidence level of our analysis, for example doing a test at 80% confidence level which might give a confidence interval all above 50% and show that our product is more effective.
  • Another way is to increase the sample size for the analysis which will deacrease the margin of error and hence the confidence interval width decreases and possibly bring it above 50%.
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
(a) Construct a 99% confidence interval for the population proportion who prefer your client's product. (b)...
(a) Construct a 99% confidence interval for the population proportion who prefer your client's product. (b) Would a 95% confidence interval for the same population proportion be wider or narrower. (c) The marketing director of your client's company states, "I am almost certain that our product is preferred by at least 40% of consumers". Based on your answer to part (a), do you agree with him? Why or why not? Consumer ID Product Preference 1 Competitor 2 Client 3 Competitor...
a) Construct a 97% confidence interval attempting to capture the population proportion of people who wear...
a) Construct a 97% confidence interval attempting to capture the population proportion of people who wear seat belts. Make sure you show the final CI in the only acceptable form for this class. Show your PE, TS, SE, and ME in addition to your final interval.   b) Can you say that more than 75% of the population complies? Why? c) Can you say that more than 80% of the population complies? Why? d) Can you say that less than 85%...
Suppose you have constructed a 90% confidence interval of a population mean, (19.7, 21.2). Decide which...
Suppose you have constructed a 90% confidence interval of a population mean, (19.7, 21.2). Decide which statement below is the correct interpretation of the results. Justify your choice, with as much detail as possible. -With 90% confidence, the mean is in the interval (19.7,21.2). -There is a 90% probability that the actual mean will be in the interval (19.7,21.2).
You provide your boss with a point estimate of 17 and a 95% confidence interval of...
You provide your boss with a point estimate of 17 and a 95% confidence interval of [13.1, 20.9] for the mean number of armor piercing rounds needed to penetrate a new type of reactive armor, based on data from 5 trials. Sigma is unknown for this population, so you had to rely on s in your calculation. She tells you that the range from 13.1 to 20.9 is too wide to be useful and asks you to narrow it. Legitimate...
1. When constructing a confidence interval to estimate a population proportion, what affects the size of...
1. When constructing a confidence interval to estimate a population proportion, what affects the size of the margin of error? A. The sample size B. The sample proportion C. The confidence level D. All of the above affect the size of the margin of error E. None of the above affect the size of the margin of error 2. What percentage of couples meet through online dating apps? A survey of a random sample of couples finds that 12% say...
Based on past data, the producers of Ice Mountain bottled water knew that the proportion of...
Based on past data, the producers of Ice Mountain bottled water knew that the proportion of people who preferred Ice Mountain to tap water was 0.71. To see how consumer perception of their product changed, they decided to conduct a survey. Of the 134 respondents, 97 indicated that they preferred Ice Mountain to the tap water in their homes. The 90% confidence interval for this proportion is ( 0.6604 , 0.7874 ). What is the best conclusion of those listed...
Suppose researchers wanted to know about the prevalence of Mountain Dew consumption A study conducted in...
Suppose researchers wanted to know about the prevalence of Mountain Dew consumption A study conducted in 2018 collected data on which soft drinks Americans aged 18 to 29 years consumed in the last 4 weeks In that year , 43.60\% of respondents aged 18 to 29 years stated that they drank Mountain Dew within 4 weeks 3.8 Suppose the 90%confidence interval calculate for these data was (0.406, 0.466). Which of the following would be possible 95%confidence intervals for these same...
Taking the Nike Experience Direct to Consumers Let’s say you’re upping your game and want to...
Taking the Nike Experience Direct to Consumers Let’s say you’re upping your game and want to exercise more. Maybe that means walking in the mornings, playing a pickup game after work, or running a marathon. Whatever your goal is, you need some new shoes, and Nike is your favored brand. If you’re like the majority of consumers, you head to a retail store to purchase a pair. Until recently, this was your only choice. Just a short while ago, if...
What are your top 3 take aways from this article? Technology is no longer just for...
What are your top 3 take aways from this article? Technology is no longer just for geeks. The internet has changed everything, including marketing. Be they small, medium or large, social media grants all companies an equal playing field on which to organically reach new customers. However, success will always ride on the marketing strategy employed. Obviously, larger companies have the advantage of bigger budgets and more resources. But that doesn’t mean social media for small business owners can’t compete...
In February 2012, the Pepsi Next product was launched into the US market. This case study...
In February 2012, the Pepsi Next product was launched into the US market. This case study provides students with an interesting insight into PepsiCo’s new product process and some of the challenging decisions that they faced along the way. Pepsi Next Case Study Introduction Pepsi Next was launched by PepsiCo into the US market in February 2012, and has since been rolled out to various international markets (for instance, it was launched in Australia in September 2012). The new product...