We're trying to find a range of values for the average amountof money that Americans have in a savings account. Wouldthis be an example of point or interval estimation?O PointO Interval

Objective of this question is that which option is the correct choice.

Answered: We're trying to find a range of values…

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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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 980 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. 95% of all confidence intervals would include the true proportion of shoppers who stock up on bargains.5% of all confidence intervals would include the true proportion of shoppers who stock up on bargains. 95% of the confidence intervals created using this method would include the…
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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 990 supermarket shoppers revealed that 260 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 _____________
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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 994 supermarket shoppers revealed that 272 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. 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 outside this interval. We are 95% confident that the true proportion of shoppers who…
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We're trying to find a range of values for the average amour of money that Americans have in a savings account. Would this be an example of point or interval estimation? O Point O Interval