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A news report about holiday spending describes the results of a survey of a random sample of 1,014 adult Americans.According to the report, we are
- A news report about holiday spending describes the results of a survey of a random sample of 1,014 adult Americans.According to the report, "we are 95% confident that between 9% and 15% of all Americans expect to spend more money on holiday gifts this year compared to last year." What exactly does the phrase "95% confident" mean?
- 95% of all Americans will spent between 9% and 15% of what they spent last year on holiday gifts.
- There is a 5% chance a mistake was made when examining the results of the survey.
- 9% to 15% of all Americans will spend 95% of what they spent last year on holiday gifts.
- The interval from 9% to 15% was constructed using a method that gets things right 95% of the time.
- We are 95% certain the interval from 9% to 15% includes the sample percentage of Americans who plan to spend more money on holiday gifts this year compared to last year.
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