For this problem, carry at least 1ou digit! in your may vary In a marketing survey, a random sample of 984 supermarket shoppers revealed that 274 always stock up on an item when they find that item at a real bargain pr (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. four decimal places.) (b) Find a 95% confidence interval for p. (Round your answers to three decimal places.) lower limit upper limit Give a brief explanation of the meaning of the interval. O we are 5% confident that the true proportion of shoppers who stock up on bargains falls within this interval. O we are 95% confident that the true proportion of shoppers who stock up on bargains falls within this interval. O we are 5% confident that the true proportion of shoppers who stock up on bargains falls above this interval. O we are 95% confident that the true proportion of shoppers who stock up on bargains falls outside 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 O Report the confidence interval. O Report p. O Report p along with the margin of error. O Report the margin of error. What is the margin of error based on a 95% confidence interval? (Round your answer to three decimal places.)
For this problem, carry at least 1ou digit! in your may vary In a marketing survey, a random sample of 984 supermarket shoppers revealed that 274 always stock up on an item when they find that item at a real bargain pr (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. four decimal places.) (b) Find a 95% confidence interval for p. (Round your answers to three decimal places.) lower limit upper limit Give a brief explanation of the meaning of the interval. O we are 5% confident that the true proportion of shoppers who stock up on bargains falls within this interval. O we are 95% confident that the true proportion of shoppers who stock up on bargains falls within this interval. O we are 5% confident that the true proportion of shoppers who stock up on bargains falls above this interval. O we are 95% confident that the true proportion of shoppers who stock up on bargains falls outside 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 O Report the confidence interval. O Report p. O Report p along with the margin of error. O Report the margin of error. What is the margin of error based on a 95% confidence interval? (Round your answer to three decimal places.)
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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Transcribed Image Text:For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding.
In a marketing survey, a random sample of 984 supermarket shoppers revealed that 274 always stock up on an item when they find that item at a real bargain price.
(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. (Round your answer to
four decimal places.)
(b) Find a 95% confidence interval for p. (Round your answers to three decimal places.)
lower limit
upper limit
Give a brief explanation of the meaning of the interval.
O we are 5% confident that the true proportion of shoppers who stock up on bargains falls within this interval.
O we are 95% confident that the true proportion of shoppers who stock up on bargains falls within this interval.
O we are 5% confident that the true proportion of shoppers who stock up on bargains falls above this interval.
O we are 95% confident that the true proportion of shoppers who stock up on bargains falls outside 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?
O Report the confidence interval.
O Report p.
O Report p along with the margin of error.
O Report the margin of error.
What is the margin of error based on a 95% confidence interval? (Round your answer to three decimal places.)
Us e v O 6:58
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