Question
A car dealership wants to estimate the proportion of customers who purchase their car by arranging a loan with the car dealership. The dealership accountant
A car dealership wants to estimate the proportion of customers who purchase their car by arranging a loan with the car dealership. The dealership accountant took a random sample of 80 recent car sales and found 8 of those car sales were arranged with a loan through the car dealership. Do NOT check conditions.
a) What is the value of the sample proportion of customers that purchased their car with a loan arranged through the car dealership?
b) Construct a 99% confidence interval. SHOW BASIC WORKINGS. PLEASE WORK TO A MINIMUM OF 4 DECIMAL PLACES.
c) Interpret your confidence interval.
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Elementary Linear Algebra Applications Version
Authors: Howard Anton, Chris Rorres
11th Edition
1118879163, 9781118879160
