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 O 9 O 7:06
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 O 9 O 7:06
MATLAB: An Introduction with Applications
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Author:Amos Gilat
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![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 O 9 O 7:06](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2649989-1989-45a7-8bfe-fdb4eedbbd5a%2F7d8d6afb-97b8-4fa5-ae26-d84e70cd7bb0%2Fkdcdbic_processed.jpeg&w=3840&q=75)
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.)
(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 O 9 O 7:06
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