Answered: A large home improvement store is…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

A large home improvement store is considering expanding its selection of moving products, such as cardboard boxes and packing tape. The store constructs a 90% confidence interval to estimate the proportion of all customers who have moved houses at least once in the last five years. In the random sample of 620 customers 201 (32.4%) replied that they had moved at least once in the last five years. The sample yielded the 90% confidence interval ( 293,0.355) for the proportion of all customers who have moved in the past five years. What is the correct interpretation of this confidence interval? The store can be 90% confident that a proportion of 0.324 of all customers of this store have moved in the past five years There is a 90% probability that between 29.3% and 35.5% of all customers of this store have moved in the past five years . There is a 10% chance that less than 29.3% or more than 35.5% of all customers of this store have moved in the past five years . The store can be 90% confident that the interval from 0.293 to 0.355 captures the proportion of all customers of this store who have moved in the past five years

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