Mathematics, 16.04.2020 03:40 kieante01

2. A marketing firm is trying to estimate the proportion of potential car buyers that would consider

purchasing a hybrid vehicle

a. The firm would like their pilot study to have a margin of error that is no more than 4%. How many

people should be in the pilot study in order to meet this goal at the 95% confidence level?

In a sample of 600 potential car buyers, 376 indicated that they would consider purchasing a hybrid

gas/electric powered car.

b. What is the point estimate for the proportion of potential car buyers that would consider buying a

hybrid vehicle? Calculate this value.

c. Find the 95% confidence interval for the true population proportion of potential car buyers that

would consider purchasing a hybrid vehicle.

d. Name two ways we could reduce the margin of error (Hint: think about the sample size n and the

confidence level)

Answers: 3

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