A marketing manager samples 150 people and finds that 87 of them have made a purchase on the internet within the past month.
a. Estimate the proportion of people who have made a purchase on the internet within the past month, and find the uncertainty in the estimate.
b. Estimate the number of people who must be sampled to reduce the uncertainty to 0.03.
Let X be the number of people in the sample who have made a purchase on the internet in the last month. and let p be the population proportion of people who have made a purchase on the internet in the last month. Then X ~ Bin(150, p). The observed value of X is 87.
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