8. A large online retailer is analyzing how frequently their product WonderWidget" is returned. Out of 345 WonderWidgets bought, 48 were returned. (a) Find the 97% confidence interval for the long-run proportion of Wonder Widgets returned. (b) If the retailer wanted to obtain a 97% confidence interval with a margin of error ±0.03, how many purchases it should analyze?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter4: Equations Of Linear Functions
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8. A large online retailer is analyzing how frequently their product WonderWidget"
is returned. Out of 345 WonderWidgets bought, 48 were returned.
(a) Find the 97% confidence interval for the long-run proportion of
Wonder Widgets returned.
(b) If the retailer wanted to obtain a 97% confidence interval with a
margin of error ±0.03, how many purchases it should analyze?
Transcribed Image Text:8. A large online retailer is analyzing how frequently their product WonderWidget" is returned. Out of 345 WonderWidgets bought, 48 were returned. (a) Find the 97% confidence interval for the long-run proportion of Wonder Widgets returned. (b) If the retailer wanted to obtain a 97% confidence interval with a margin of error ±0.03, how many purchases it should analyze?
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