SCENARIO 8-6
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 Scenario 8-6,95% of the people will recognize the product between 36% and 54% of the time.

Question

Quizplus · Accepted Answer

The confidence interval means we are 95% confident that the true proportion of people who recognize the product is between 36% and 54%, not that they will recognize it 36% to 54% of the time.

SCENARIO 8-6 After an Extensive Advertising Campaign,the Manager of a Company Wants