Compute a point estimate for what are the upper and lower


Is there a way to approach this problem in Excel:

The Marriott Hotel marketing team wants to estimate ρ, the proportion of the hotel guests who were return visitors in the past three years. They select a simple random sample of 150 guests from the past three year's records and finds that 27 of the sampled guests are return visitors.

  1. Compute a point estimate for ρ.
  2. What are the upper and lower bounds for the 90% confidence interval for ρ (4 decimals)?

Solution Preview :

Prepared by a verified Expert
Business Economics: Compute a point estimate for what are the upper and lower
Reference No:- TGS02929360

Now Priced at $10 (50% Discount)

Recommended (98%)

Rated (4.3/5)