The Universal Music Group is the music industry leader worldwide in sales according to the company website. Suppose a researcher wants to determine what market share the company holds in Burnaby,...

q42

Extracted text: The Universal Music Group is the music industry leader worldwide in sales according to the company website. Suppose a researcher wants to determine what market share the company holds in Burnaby, B.C., by randomly selecting 1,003 people who purchased music last month. In addition, suppose 25.5% of the purchases made by these people were for music distributed by the Universal Music Group. Based on these data, construct a 99% confidence interval to estimate the proportion of the music sales market in Burnaby that is held by the Universal Music Group. Now suppose that the survey had been taken with 10,000 people. Recompute the confidence interval and compare your results with the first confidence interval. How did they differ? What might you conclude from this about sample size and confidence intervals? (Round your answers to 3 decimal places, e.g. 0.759.) n = 1 = 1,003 people: