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 polnt estimate for p. (Round your answer to four decimal places.) 0.2785 (b) Find a 95% confidence interval for p. (Round your answers to three decimal places.) lower limit 0.251 upper limit 0.307 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 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.
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 polnt estimate for p. (Round your answer to four decimal places.) 0.2785 (b) Find a 95% confidence interval for p. (Round your answers to three decimal places.) lower limit 0.251 upper limit 0.307 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 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.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Transcribed Image Text: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.)
0.2785
(b) Find a 95% confidence interval for p. (Round your answers to three decimal places.)
lower limit
0.251
upper limit
0.307
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 9 0 7:19
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