Question
Quality Progress, February 2005, reports on improvements in customer satisfaction and loyalty made by Bank of...
Quality Progress, February 2005, reports on improvements
in customer satisfaction and loyalty made by Bank of America. A key
measure of customer satisfaction is the response (on a scale from 1
to 10) to the question: "Considering all the business you do with
Bank of America, what is your overall satisfaction with Bank of
America?" Here, a response of 9 or 10 represents "customer
delight." Suppose that the survey selected 260 customers. Assume
that 45% of Bank of America customers would currently express
customer delight. That is, assume p = .45.
(a) Find the probability that the sample
proportion obtained from the sample of 260 Bank of America
customers would be within three percentage points of the population
proportion.
That is, find P(.42 < < .48).
(Round your answer to 4 decimal places. Do not round
intermediate values. Round z-value to 2 decimal
places.)
P(.42 < < .48)
(b) Find the probability that the sample
proportion obtained from the sample of 260 Bank of America
customers would be within six percentage points of the population
proportion.
That is, find P(.39 < < .51).
(Round your answer to 4 decimal places. Do not round
intermediate values. Round z-value to 2 decimal
places.)
P(.39 < < .51)
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
2a. Describe the sample and population you are studying. I am studying customers' satisfaction level with...
2a. Describe the sample and population you are studying.
I am studying customers' satisfaction level with their
car insurance plan.
2b. Calculate the sample mean and sample standard deviation for
your variable. Keep at least four decimal places.
2c. Calculate the standard error and the margin of error for a 90%
confidence interval. Keep at least four decimal places.
Data:
36
18
66
43
28
39
47
40
24
46
48
57
36
58
39
62
43
65
74
36...
A consumer product testing organization uses a survey of readers to obtain customer satisfaction ratings for...
A consumer product testing organization uses a survey of readers
to obtain customer satisfaction ratings for the nation's largest
supermarkets. Each survey respondent is asked to rate a specified
supermarket based on a variety of factors such as: quality of
products, selection, value, checkout efficiency, service, and store
layout. An overall satisfaction score summarizes the rating for
each respondent with 100 meaning the respondent is completely
satisfied in terms of all factors. Suppose sample data
representative of independent samples of...
A magazine uses a survey of readers to obtain customer satisfaction ratings for the nation's largest...
A magazine uses a survey of readers to obtain customer
satisfaction ratings for the nation's largest retailers. Each
survey respondent is asked to rate a specified retailer in terms of
six factors: quality of products, selection, value, checkout
efficiency, service, and store layout. An overall satisfaction
score summarizes the rating for each respondent with 100 meaning
the respondent is completely satisfied in terms of all six factors.
Sample data representative of independent samples of Retailer A and
Retailer B customers...
A consumer product testing organization uses a survey of readers to obtain customer satisfaction ratings for...
A consumer product testing organization uses a survey of readers
to obtain customer satisfaction ratings for the nation's largest
supermarkets. Each survey respondent is asked to rate a specified
supermarket based on a variety of factors such as: quality of
products, selection, value, checkout efficiency, service, and store
layout. An overall satisfaction score summarizes the rating for
each respondent with 100 meaning the respondent is completely
satisfied in terms of all factors. Suppose sample data
representative of independent samples of...
The customer service department for a wholesale electronics outlet claims that 80 percent of all customer...
The customer service
department for a wholesale electronics outlet claims that 80
percent of all customer complaints are resolved to the satisfaction
of the customer. In order to test this claim, a random sample of 15
customers who have filed complaints is selected.
(b)
Find each of the
following if we assume that the claim is true: (Do not
round intermediate calculations. Round final answers to 4 decimal
places.)
1.
P(x ≤ 13)
2.
P(x > 10)
3.
P(x ≥...
Recall that "very satisfied" customers give the XYZ-Box video game system a rating that is at...
Recall that "very satisfied" customers give the XYZ-Box video
game system a rating that is at least 42. Suppose that the
manufacturer of the XYZ-Box wishes to use the random sample of 65
satisfaction ratings to provide evidence supporting the claim that
the mean composite satisfaction rating for the XYZ-Box exceeds 42.
(a) Letting µ represent the mean composite satisfaction rating for
the XYZ-Box, set up the null hypothesis H0 and the alternative
hypothesis Ha needed if we wish to...
Consumer Reports (January 2005) indicates that profit margins on extended warranties are much greater than on...
Consumer Reports (January 2005) indicates that profit margins on
extended warranties are much greater than on the purchase of most
products. In this exercise we consider a major electronics retailer
that wishes to increase the proportion of customers who buy
extended warranties on digital cameras. Historically, 20 percent of
digital camera customers have purchased the retailer’s extended
warranty. To increase this percentage, the retailer has decided to
offer a new warranty that is less expensive and more comprehensive.
Suppose that...
Consumer Reports (January 2005) indicates that profit margins on extended warranties are much greater than on...
Consumer Reports (January 2005) indicates that profit
margins on extended warranties are much greater than on the
purchase of most products. In this exercise we consider a major
electronics retailer that wishes to increase the proportion of
customers who buy extended warranties on digital cameras.
Historically, 20 percent of digital camera customers have purchased
the retailer’s extended warranty. To increase this percentage, the
retailer has decided to offer a new warranty that is less expensive
and more comprehensive. Suppose that...
Consumer Reports (January 2005) indicates that profit margins on extended warranties are much greater than on...
Consumer Reports (January 2005) indicates that profit
margins on extended warranties are much greater than on the
purchase of most products. In this exercise we consider a major
electronics retailer that wishes to increase the proportion of
customers who buy extended warranties on digital cameras.
Historically, 20 percent of digital camera customers have purchased
the retailer’s extended warranty. To increase this percentage, the
retailer has decided to offer a new warranty that is less expensive
and more comprehensive. Suppose that...
The bank manager wants to show that the new system reduces typical customer waiting times to...
The bank manager wants to show that the new system reduces
typical customer waiting times to less than 6 minutes. One way to
do this is to demonstrate that the mean of the population of all
customer waiting times is less than 6. Letting this mean be
µ, in this exercise we wish to investigate whether the
sample of 93 waiting times provides evidence to support the claim
that µ is less than 6.
For the sake of argument, we...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 2 minutes ago
asked 2 minutes ago
asked 2 minutes ago
asked 35 minutes ago
asked 37 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago