16. Take the offer. First USA, a major credit card
Chapter 19, Problem 16(choose chapter or problem)
16. Take the offer. First USA, a major credit card company,is planning a new offer for their current cardholders. Theoffer will give double airline miles on purchases for thenext 6 months if the cardholder goes online and registersfor the offer. To test the effectiveness of the campaign,First USA recently sent out offers to a random sample of50,000 cardholders. Of those, 1184 registered.a) Give a 95% confidence interval for the true proportionof those cardholders who will register for the offer.b) If the acceptance rate is only 2% or less, the campaignwont be worth the expense. Given the confidence intervalyou found, what would you say?
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