After an extensive advertising campaign, the manager of a company wants to estimate the proportion of potential customers that recognize a new product. she samples 120 potential consumers and finds that 54 recognize this product. she uses this sample information to obtain a 95 percent confidence interval that goes from 0.36 to 0.54. true or false: this interval requires the assumption that the distribution of the number of people recognizing the product has a normal distribution.

True

Explanation:

The experiment is meant to measure potential customers that recognize a new product. So the potential customer can recognize the product or not, and in these cases, we say the variable (the thing we are studying) has a binomial distribution. The parameters are n (120) and p (54/120 = 0.45). As n is bigger than 30, we can't use the binomial distribution, we have to approximate it by using another one, in this case, the normal distribution. This is because not only n>30 but also because p is between 0.1 and 0.9 (0.1<p<0.9). So yes, in order to perfomr the interval of confidence, we have to assume that the number of people recognizing the product has a normal distribution. The parameters for the normal distribution will be mean (n*p = 54) and variance (n*p* (1-p) = 29.7), which makes a standard deviation of 5,44977 approximately. With those values we can build our confidence interval and seek the values of our variable.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.