A taste test with 200 randomly selected people found that only 3 of them said that they would buy a box of new Sweet Wheat Cereal. How many boxes could the manufacturer expect to sell in a country of 280 million people?
Well, the obvious answer is (3/200) times 280 million = 4.2 million. However in real life you might want to consider factors such as whether people who say they would buy a thing will actually buy it ...
Well, the obvious answer is (3/200) times 280 million = 4.2 million. However in real life you might want to consider factors such as whether people who say they would buy a thing will actually buy it ...
Also, you might (assuming your respondents are honest) want to consider the
sampling error inherent in 3 positive responses in a random sample of 200.