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Near the time of an election, a cable news service performs an opinion poll of 1,000 probable voters. It shows that the Republican contender has an advantage of 52% to 48% with a standard deviation of 0.0158.
a. Develop a 95% confidence interval for the proportion favoring the Republican candidate. (Round your answers to 3 decimal places.)
b. Estimate the probability that the Democratic candidate is actually leading.(Round your answer to 3 decimal places.)
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1.Explain the product life cycle and discuss how it leads to introducing new products.
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