Write a confidence interval problem using one of the options below. For whichever option you choose, gather the appropriate data and post your problem with the solution.
Think about a population mean that you may be interested in and propose a confidence interval problem for this parameter. Your data values should be approximately normal.
For example, you may want to estimate the population mean number of times that adults go out for dinner each week. Your data could be that you spoke with seven people you know and found that they went out 2, 0, 1, 5, 0, 2, and 3 times last week. You then would choose to calculate a 95% (or another level) confidence interval for the population mean.
Assume a random sample was chosen, which is required to determine a confidence interval.
Think about a population proportion that you may be interested in and propose a confidence interval problem for this parameter.
has powerful potential to contribute to the highly important aspects of the organisational competitiveness, namely innovation (Kerin, 1992) and competitive analysis (Varadarajan, 1992) and Schulz wanted to innovate and recreate the experience of the Italian coffee bar culture. Starbucks mainly focused on the strategy of new products, a stronger connection with the customers as the Third place and expanding store locations in the United States and abroad. Starbucks has followed the simple STP process (Segmentation, Targeting and Positioning). 2.1 Segmentation: Market Segmentation is a process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviour that might require separate products or marketing programs is called Market Segmentation (Kotler and Armstrong, 2006). Initially Starbucks was based as a Socio-Economic segmentation base in consumer Markets as it has concentrated on social class particularly the business class people those who are working at the office and wanted to have a cup of coffee with a good atmosphere and facilities. Starbucks also had segmented his market by geographic and demographically by selecting the store location where they can find the educated and coffee lovers (Dibb and Simkin, 1996). 2.2 Targeting: After a company has defined market segments, it can enter one or many segments of a given market and should make decision about how many and which customer groups to target (Dibb and Simkin, 1996). Target Marketing is a process of evaluating each market segment’s attractiveness and selecting one or more segments to enter (Kotler and Armstrong, 2006). The concept of target marketing is a logical implication of the basic philosophy of marketing (Lancaster and Massingham, 1993). A company should target segments in which it can profitably generate the greatest customer value and sustain it overtime. Starbucks wanted to develop a reputable relationship with the customers, Most of companies enter in a new market y serving a single segment, and if this proves successful than they add more se>GET ANSWER