Business Finance
MAT510 Strayer University Confidence Interval Problems Paper

MAT510

Strayer University

Question Description

This assignment requires answering some homework questions which are attached. Please answer the questions as specified.

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Description Suppose the number of equipment sales and service contracts that a store sold during the last six (6) months for treadmills and exercise bikes was as follows: Treadmill Total sold 195 Service contracts 60 Exercise Bike 138 45 The store can only sell a service contract on a new piece of equipment. Of the 195 treadmills sold, 60 purchased a service contract. Of the 138 exercise bikes, 45 purchased a service contract. Remember to watch the instructional video and use the excel template provided to help you with the math. Complete the following questions in the space provided below: 1. 2. 3. 4. 5. Is there a major difference between the two pieces of equipment? Why or why not? Interpret the meaning of the confidence interval for Treadmills at a 95% confidence level. Interpret the meaning of the confidence interval for Exercise Bikes at a 95% confidence level. Are confidence intervals one-tailed or two-tailed? Construct a 95 percent confidence interval for the difference between the proportions of service contracts sold on treadmills versus exercise bikes. ...
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Final Answer

Attached.

1. Is there a major difference between the two pieces of equipment? Why or why not?
2. There is no major difference between the treadmill and the exercise bike. The rationale behind
this reasoning is that the confidence interval has a value of zero as it ranges from (-12% and
8%). The rationale behind this is that the prop...

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