Homework Help is Here – Start Your Trial Now!
Math
Statistics
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 986 supermarket shoppers revealed that 264 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. (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. O 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. O We are 5% confident that the true proportion of shoppers ho up on bargains falls interval. 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. 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? (Enter a number. Round your answer to three decimal places.) Need Help? Read It

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 986 supermarket shoppers revealed that 264 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. (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. O 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. O We are 5% confident that the true proportion of shoppers ho up on bargains falls interval. 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. 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? (Enter a number. Round your answer to three decimal places.) Need Help? Read It

MATLAB: An Introduction with Applications
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
icon
Related questions
Question
Practice Pack
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 986 supermarket shoppers revealed that 264 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. (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. O 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. O We are 5% confident that the true proportion of shoppers who up on bargains falls interval. 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. Report p. O Report p along with the margin of error. Report 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.) Need Help? Read It
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 986 supermarket shoppers revealed that 264 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. (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. O 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. O We are 5% confident that the true proportion of shoppers who up on bargains falls interval. 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. Report p. O Report p along with the margin of error. Report 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.) Need Help? Read It
Expert Solution
trending now

Trending now

This is a popular solution!

video

Learn your way

Includes step-by-step video

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS