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 1020 supermarket shoppers revealed that 270 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 _______________ What is the margin of error based on a 95% confidence interval? (Enter a number. Round your answer to three decimal places.) ______________
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 1020 supermarket shoppers revealed that 270 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 _______________ What is the margin of error based on a 95% confidence interval? (Enter a number. Round your answer to three decimal places.) ______________
Mathematics For Machine Technology
8th Edition
ISBN:9781337798310
Author:Peterson, John.
Publisher:Peterson, John.
Chapter38: Achievement Review—section Three
Section: Chapter Questions
Problem 6AR
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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 1020 supermarket shoppers revealed that 270 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 _______________
What is the margin of error based on a 95% confidence interval? (Enter a number. Round your answer to three decimal places.) ______________
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