A cellphone provider has the business objective of wanting to estimate the proportion of subscribers who would upgrade to a new cellphone with improved features if it were made available at a substantially reduced cost. Data are collected from a random sample of 500500 subscribers. The results indicate that 135135 of the subscribers would upgrade to a new cellphone at a reduced cost. Complete parts​ (a) and​ (b) below. a. Construct a 9999​% confidence interval estimate for the population proportion of subscribers that would upgrade to a new cellphone at a reduced cost.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.