You have a large bag with red and white poker chips. You take a sample of 40 chips and get 18 white chips. a) Make a 95% confidence interval to estimate the true proportion of white chips in the bag. b) Write out an interpretation of your confidence interval. c) Based on your sample and confidence interval, what is your best guess for the true proportion of white chips in the bag?

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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You have a large bag with red and white poker chips. You take a sample of 40 chips and get 18 white chips.
a) Make a 95% confidence interval to estimate the true proportion of white chips in the bag.
b) Write out an interpretation of your confidence interval.
c) Based on your sample and confidence interval, what is your best guess for the true proportion of white chips in the bag?
Transcribed Image Text:You have a large bag with red and white poker chips. You take a sample of 40 chips and get 18 white chips. a) Make a 95% confidence interval to estimate the true proportion of white chips in the bag. b) Write out an interpretation of your confidence interval. c) Based on your sample and confidence interval, what is your best guess for the true proportion of white chips in the bag?
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