Calculate a 95 % confidence interval for the population proportion of social media sports fans who more likely purchases a brand referred by an athlete on a social media site.
Calculate a 95 % confidence interval for the population proportion of social media sports fans who more likely purchases a brand referred by an athlete on a social media site.
Solution Summary: The author calculates the 95% confidence interval for the population proportion of social media sports fans who more likely purchases a brand referred by an athlete.
Definition Definition Method in statistics by which an observation’s uncertainty can be quantified. The main use of interval estimating is for describing a range that is made by transforming a point estimate by determining the range of values, or interval within which the population parameter is likely to fall. This range helps in measuring its precision.
Chapter 8, Problem 30PS
a.
To determine
Calculate a 95% confidence interval for the population proportion of social media sports fans who more likely purchases a brand referred by an athlete on a social media site.
b.
To determine
Explain if it can be claimed that more than half of all social media sports fans would more likely purchase a brand referred by an athlete on a social media site.
c.
To determine
Calculate a 95% confidence interval for the population proportion of social media sports fans and explain if more than half of all social media sports fans would more likely purchase a brand referred by an athlete, for a sample size of 5,000.
d.
To determine
Explain the effect of sample size on confidence interval estimation.
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