TABLE 8-7
After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that recognize a new product. She samples 120 potential consumers and finds that 54 recognize this product. She uses this sample information to obtain a 95% confidence interval that goes from 0.36 to 0.54.
-Referring to Table 8-7, the parameter of interest is 54/120 = 0.45.

Question

TABLE 8-7
 After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that recognize a new product. She samples 120 potential consumers and finds that 54 recognize this product. She uses this sample information to obtain a 95% confidence interval that goes from 0.36 to 0.54.
-Referring to Table 8-7, the parameter of interest is 54/120 = 0.45.

Quizplus · Accepted Answer

The parameter of interest is the true proportion of potential customers that recognize the product, not the sample proportion. The sample proportion (54/120 = 0.45) is used to estimate the parameter.

TABLE 8-7 After an Extensive Advertising Campaign, the Manager of a of a Company