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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)
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