(a) Let p represent the proportion of all supermarket shoppers who always stock up on an item when they find a real bargain. Find a point estimate for p. (Enter a number. Round your answer to four decimal places.) (b) Find a 95% confidence interval for p. (For each answer, enter a number. Round your answers to three decimal places.) lower limit      upper limit      Give a brief explanation of the meaning of the interval.   We are 5% confident that the true proportion of shoppers who stock up on bargains falls within this interval.   We are 95% confident that the true proportion of shoppers who stock up on bargains falls within this interval.       We are 95% confident that the true proportion of shoppers who stock up on bargains falls outside this interval.   We are 5% confident that the true proportion of shoppers who stock up on bargains falls above this interval. (c) As a news writer, how would you report the survey results on the percentage of supermarket shoppers who stock up on items when they find the item is a real bargain? Report p̂ along with the margin of error.   Report the confidence interval.       Report the margin of error.   Report p̂. What is the margin of error based on a 95% confidence interval? (Enter a number. Round your answer to three decimal places.)

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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.