
Concept explainers
To find: The interval of having exact person of US adults.

Answer to Problem 12CR
The exact percent of all the U.S adults who prefer saving money over spending it is between 58.9% and 65.1%.
Explanation of Solution
Given:
Out of 1017 U.S adults, 62% said they prefer saving money over spending it.
Calculation:
For a random sample of size n , taken from a large population, the margin of error is approximated by
Margin of error =±1√n .So, if is the percent of the sample responding in a certain way, then the percent of the population who would respond the same way is likely to be between p−1√n and p+1√n
To find the margin of error for the survey.
Given that
n=1017
From the margin of error formula given above,
Margin of error =±1√n
=±1√1017=±0.031
Thus, the margin of error for the survey is about ±3.1% .
To find the interval that is likely to contain the exact percent of all the U.S adults who prefer saving money over spending it.
To find the interval, subtract and add 3.1% to the percent of people surveyed who prefer saving money over-spending it (62%).
p−1√n=62%−3.1%=58.9%
and
p+1√n=62%+3.1%=65.1%
Thus, it is likely that the exact percent of all the U.S adults who prefer saving money over spending it is between 58.9% and 65.1%.
Conclusion:
Hence, the exact percent of all the U.S adults who prefer saving money over spending it is between 58.9% and 65.1%.
Chapter 11 Solutions
Big Ideas Math A Bridge To Success Algebra 2: Student Edition 2015
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