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

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 26PFA

See similar textbooks

(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.)

Expert Solution

Trending now

This is a popular solution!

Learn your way

Includes step-by-step video

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Point Estimation, Limit Theorems, Approximations, and Bounds$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions