Use answers to Q3b to determine a maximum and minimum expected value for the settlement b. a 95% confidence interval on the estimate of 75% and interpretationProportion (p) =0.75Confidence level = 95%Margin of error = 0.03Sample size (n)=850First it will be important to construct a 95% confidence interval in regard to the populationproportion. The required confidence interval estimate can be obtained as:P(I-P)CI = p± z.»0.75(1-0.75)= 0.75 + (1.96),850-0.75±0.0291= (0.7209,0.7791)The confidence interval is from 0.7209 to 0.7791.DFoces)

A 95% confidence interval : (0.7209,0.7791) sample size (n) = 850

Answered: b. a 95% confidence interval on the…

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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b. a 95% confidence interval on the estimate of 75% and interpretation. Proportion (p) =0.75 Confidence level 95%