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Sample size originally provided is insufficiently small

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Reference no: EM132372822

The sample size originally provided is insufficiently small. Using a larger sample of 200 customers, you conduct research and the data is now ready for analysis.

The following results were found:

  1. Sample mean for price was $49.20 with a standard deviation of $4.60
  2. Proportion who would purchase the new product was 62%

At least 75% of the customers must express some desire for the product. The customers who are interested in the product must be willing to pay at least $49.00.

Using this information, complete the following:

Reference no: EM132372822

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