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Market Research Results Materials conducted her surveys and has analyzed the results. Marissa Hi, Eliannys Ranero, I have the results of the market research, and you'll be interested to see the results of what your customers think of your business. Take a look! Marissa From the research, customers really like your drink quality and customer service, but what do you see needs improving? Materials on the right have been updated 》 Customer service and friendliness Location Product variety Quarterly Market Research Analysis The Strengths Customers Believe the Business Has The Weaknesses Customers Believe the Business Has Products are high-quality. Customer service is high-quality. Customers' income range for the area is fairly high. Strong social media marketing. Location produces plenty of foot traffic during the day from nearby businesses. The Opportunities Customers Would Like From the Business Offering other products like some other competitors do. Hire more employees to shorten wait times. Expand to another location. Create an app for ease of ordering. Product variety is lacking. Limited staff during peak business hours can lead to longer wait times. Lack of awareness of products and promotions. Since we are located in front of a business center, the weekends are slower. The Threats Customers Believe the Business Will Face The fluctuating price of ingredients. Strong competition from other nearby cafes. Not enough employees to allow expansion. Technology changes, such as creating an app, takes a longer time. Submit
In this assignment you will practice building and interpreting confidence intervals. Confidence intervals are used to give a range of plausible values for the population mean or proportion under consideration. If you have ever read the results of a poll, you might recall that a percentage is given followed by the statement, "...plus or minus..." some value. For example, the presidential approval rating is 49% plus or minus 1.73%. The 49% is the sample proportion with the 1.73% noting the margin of error. Understanding how confidence intervals are built and interpreted will help you become a better consumer of information. Confidence intervals are used in a variety of applications besides analyzing polling data. For instance, manufacturing clothing (sizes are based on an average plus or minus an acceptable error), volume of food items (the 12 oz cereal box holds on average 12 oz plus or minus a margin of error), lifetimes of items (a lightbulb will last on average 400 hours plus or minus an acceptable error), etc. Task Based on USDA suggestion, a U.S. adult should be spending anywhere from 165 to 345 per month on food, depending on age and gender. A random sample of 120 adults in Washington State is polled regarding the amount of money they spend each month on food. The sample has an average of 273.61 with a standard deviation of 61.59. Based on this information, complete the following questions. a) (5pts)Show that the requirements to build a confidence interval are met. b) (5 pts) State the critical value for a 90% confidence interval c) (5pts)Compute the 90% confidence interval. State values to two decimal places. d) (5pts) Interpret the 90% confidence interval using complete sentences.