Answered: Find a 95% confidence interval for p.…

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter7: Applying Fractions

Section7.2: Proportions

Problem 47WE

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(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 outside this interval. We are 95% confident that the true proportion of shoppers who stock up on bargains falls within 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.Report the confidence interval. Report the margin of error.Report p̂ along with the margin of error.

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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