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According to a recent report for a franchise association, 28.1% of all franchised businesses in a certain country are minority owned. Suppose that you obtain
According to a recent report for a franchise association, 28.1% of all franchised businesses in a certain country are minority owned. Suppose that you obtain a sample of 100 franchised businesses located in a certain region of the country and find that 25 are owned by minorities. Does this result lead you to conclude that the percentage of minority-owned franchises in the region is less than the national value of 28.1%? Explain. A 90% confidence interval for the proportion of all franchised businesses located in the region that are minority-owned is () (Round to three decimal places as needed.) Based on the confidence interval, this result suggests that the percentage of minority-owned franchises in the region is less than the national value of 28.1%, since 0.281 ies above the upper confidence interval bound
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