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 724 women shoppers revealed that 636 remained loyal to their favorite supermarket during the past year (i.e., did not switch stores). (a) Let p represent the proportion of all women shoppers who remain loyal to their favorite supermarket. 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. We are 5% confident that the true proportion of loyal women shoppers falls within this interval.We are 5% confident that the true proportion of loyal women shoppers falls above this interval. We are 95% confident that the true proportion of loyal women shoppers falls outside this interval.We are 95% confident that the true proportion of loyal women shoppers falls within this interval. (c) As a news writer, how would you report the survey results regarding the percentage of women supermarket shoppers who remained loyal to their favorite supermarket during the past year? Report p̂.Report the margin of error. Report the confidence interval.Report p̂ along with 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

See similar textbooks

Related questions

Question

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 724 women shoppers revealed that 636 remained loyal to their favorite supermarket during the past year (i.e., did not switch stores).

(a)

Let p represent the proportion of all women shoppers who remain loyal to their favorite supermarket. 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.

We are 5% confident that the true proportion of loyal women shoppers falls within this interval.We are 5% confident that the true proportion of loyal women shoppers falls above this interval. We are 95% confident that the true proportion of loyal women shoppers falls outside this interval.We are 95% confident that the true proportion of loyal women shoppers falls within this interval.

(c)

As a news writer, how would you report the survey results regarding the percentage of women supermarket shoppers who remained loyal to their favorite supermarket during the past year?

Report p̂.Report the margin of error. Report the confidence interval.Report p̂ along with the margin of error.

What is the margin of error based on a 95% confidence interval? (Round your answer to three decimal places.)

AI-Generated Solution

AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.