Concept explainers
Customer participation in store loyalty card programs. Customers who participate in a store’s free loyalty card program save money on their purchases but allow the store to keep track of their shopping habits and potentially sell these data to third parties. A Pew Internet & American Life Project Survey (January 2016) revealed that half (225) of a random sample of 250 U.S. adults would agree to participate in a store loyalty card program. Despite the potential for information sharing.
- a. Estimate the true proportion of all U.S. adults who would agree to participate in a store loyalty card program. despite the potential for information sharing .. 5
- b. Form a 90% confidence interval around the estimate. part a. (.448, .552)
- c. Provide a practical interpretation of the confidence interval, part b. Your answer should begin with, “We are 90% confident…”
- d. Explain the theoretical meaning of the phrase. “We are 90% confident.”
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