Question

: In a marketing survey, a random sample of 730 women shoppers revealed that 628 remained loyal to their favorite supermarket during the past year (i.e. did not switch stores). (Source: Trends in the United States: Consumer Attitudes and the Supermarket, The Research Department, Food Marketing Institute). a) Let p represent the proportion of all women shoppers who remain loyal to their favorite supermarket. Find a point estimate for p.

Answer 1

The point estimate for p is 0.86.

Explanation:

We are given that in a marketing survey, a random sample of 730 women shoppers revealed that 628 remained loyal to their favorite supermarket during the past year (i.e. did not switch stores).

Let p = proportion of all women shoppers who remain loyal to their favorite supermarket

Now, the point estimate for the population proportion (p) is represented by ;

Point estimate for p =
`\hat p` =
`(X)/(n)`

where, X = Number of women shoppers who remained loyal to their favorite supermarket during the past year = 628

n = sample of women shoppers = 730

So, point estimate for p (
`\hat p`) =
`(X)/(n)`

=
`(628)/(730)` = 0.86