Essentials of Statistics (5th Edition)
Essentials of Statistics (5th Edition)
5th Edition
ISBN: 9780321924599
Author: Mario F. Triola
Publisher: PEARSON
Question
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Chapter 7, Problem 1CQQ
To determine

To identify: The confidence interval that corresponds to the given information.

Expert Solution & Answer
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Answer to Problem 1CQQ

The confidence interval is 36.9%<p<43.1% .

Explanation of Solution

Given info:

The USA Today reported that 40% of people surveyed planned to use accumulated loose change for paying bills and the margin of error is ±3.1 percentage points.

Calculation:

The formula for confidence interval is,

CI=p^E<p<p^+E

Substitute 40% for p^ and 3.1% for E in the confidence interval formula.

CI=(40%3.1%<)p<(40%+3.1%)=36.9%<p<43.1%

Thus, the confidence interval is 36.9%<p<43.1% .

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Chapter 7 Solutions

Essentials of Statistics (5th Edition)

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