Give a careful verbal interpretation of the 95% confidence interval for the long-run proportion of new product placements
What will be an ideal response?
We are 95% confident that the true long run proportion of new product placements is in the interval (0.414, 0.502). By 95% confident we mean that if this experiment is conducted several times and a confidence interval is calculated for each trial, we expect 95% of them to include the true long run proportion.
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Imagine you go to a retail outlet and buy a pair of shoes. Prior to this transaction taking place, a wholesaler bought the shoes from the manufacturer and sold them to the retail outlet. Identify the reseller in this situation.
only the wholesaler only the retailer both the wholesaler and the retailer neither the wholesaler nor the retailer
Which of the following best describes the term "sensitivity analysis"?
A) It is a testing technique to determine how results would differ if key assumptions are changed. B) It is an analysis of the emotional sensitivity of a company's employees. C) It is an evaluation of the accuracy of the assumptions. D) It evaluates a company's financial condition by doing financial statement analysis.