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According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in the United States gets returned. A Houston department store
According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in the United States gets returned. A Houston department store sampled 80 items sold in January and found that 8 of the items were returned.
(a) | Construct a point estimate of the proportion of items returned for the population ofsales transactions at the Houston store. If required, round your answer to three decimal places. |
(b) | Construct a 95% confidence interval for the porportion of returns at the Houston store. If required, round your answer to three decimal places. |
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