Question

A market-research firm was hired to determine the percentage of people in a market area who would purchase a client’s magazine if a door-to-door sales campaign were undertaken. The firm stated that 40% would buy if contacted at home. Suppose the marketing company has tried the sales campaign at 300 randomly selected homes.Assuming the market research was done properly and the 40% is representative, how many sales are expected if the publisher attempts to sell to 5,000 homes?If the market research was accurate, what is the probability that fewer than 100 individuals will buy? Use the normal approximation to the binomial.Suppose that the publisher actually sells the magazine to 70 people out of the 300 contacted. What would you conclude about the market research? About the campaign?

Answer 1

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.