Mathematics, 07.03.2020 05:12 batmanmarie2004
A marketing researcher wants to estimate the mean savings ($) realized by shoppers who showroom. Showrooming is the practice of inspecting products in retail stores and then purchasing the products online at a lower price. A random sample of 100 shoppers who recently purchased a consumer electronics item online after making a visit to a retail store yielded a mean savings of $58 and a standard deviation of $55. a) Construct a 95% confidence interval for the mean savings for all showroomers who purchased a consumer electronics item. b) Suppose the owners of a consumer electronics retailer wants to predict the average total value of lost sales attributed to the next 1000 showroomers that enter their retail store. Please use the results in part (a) to help him do the estimation.
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A marketing researcher wants to estimate the mean savings ($) realized by shoppers who showroom. Sho...
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