1. A recent article in the Economist reported on the decision by Zillow to \"shut down its huge instant-buying, or i-buying , business, which uses big data and algorithms to make offers on homes in dozens of cities in America and then swiftly sells them on.\" According to a former Zillow employee, the company aimed to have 50% of its offers to be accepted. Suppose that Zillow made 100 offers to homeowners and 74 of them were accepted. a. Construct a 99% CI estimate of the population proportion of Zillow's offers that are accepted. b. Explain whether the algorithm currently used by Zillow yields an acceptance rate higher than the 50% rate that Zillow intended to have. c. Compute the number of offers that Zillow would have to make so that the 99% CI estimate has a margin of error of 1%. Additional scenario: Suppose that Zillow made 14,000 offers in the third quarter of this scal year and 74% of these offers were accepted. (1. Without any calculation, explain why the margin of error for the 99% CI estimate of the population proportion of Zillow's offers that are accepted is at most 1%. e. The price range that Zillow offers for each house is between 200K 7 400K. Compute the minimum expense that was over Zillow's planned budget in the third quarter alone