Consumers can purchase nonprescription medications at food stores, mass merchand

Question

Consumers can purchase nonprescription medications at food stores, mass merchandise stores such as Target and Wal-Mart, or pharmacies. About 45% of consumers make such purchases at pharmacies. What accounts for the popularity of pharmacies, which often charge higher prices?

A study examined consumers' perceptions of overall performance of the three types of stores, using a long questionnaire that asked about such things as "neat and attractive store," "knowledgeable staff," and "assistance in choosing among various types of nonprescription medication." A performance score was based on 27 such questions. The subjects were 203people chosen at random from the Indianapolis telephone directory. Here are the means and standard deviations of the performance scores for the sample.

(b) Give 98% confidence intervals for the mean performance for each type of store. (Round your answers to three decimal places.)

Food Stores ( , )

Mass Merchandisers ( , )

Pharmacies ( , )

Store type x s Food stores 18.36 24.80 Mass merchandisers 32.38 33.65 Pharmacies 48.32 35.39

(b) Give 98% confidence intervals for the mean performance for each type of store. (Round your answers to three decimal places.)

Food Stores ( , )

Mass Merchandisers ( , )

Pharmacies ( , )

Explanation / Answer

Solution:- For n = 203

(b) 98% confidence interval for Z = 2.33

=> Food Stores : X +/- Z*s/sqrt(n) = 18.36 +/- 2.33*24.80/sqrt(203) = (14.304 , 22.416)

=> Mass Merchandisers : 32.38 +/- 2.33*33.65/sqrt(203) = (26.877 , 37.883)

=> Pharmacies : 48.32 +/- 2.33*35.39/sqrt(203) = (42.533 , 54.107)

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.