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For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding. In a marketing survey,
For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding. In a marketing survey, a random sample of 1008 supermarket shoppers revealed that 272 always stock up on an item when they nd that item at a real bargain price. (a) Let ,0 represent the proportion of all supermarket shoppers who always stock up on an item when they nd a real bargain. Find a point estimate for ,9. (Enter a number. Round your answer to four decimal places.) E [b) Find a 95% condence Interval for ,0. {For each answer, enter a number. Round your answers to three deCimal places.) lower limit upper limit Give a brief explanation of the meaning of the interval. 0 We are 5% condent that the true proportion of shoppers who stock up on bargains falls within this interval. 0 We are 95% condent that the true proportion of shoppers who stock up on bargains falls within this interval. 0 We are 95% condent that the true proportion of shoppers who stock up on bargains falls outside this interval. 0 We are 5% condent that the true proportion of shoppers who stock up on bargains falls above this interval. [c) As a news writer, how would you report the survey results on the percentage of supermarket shoppers who stock up on items when they nd the item is a real bargain? 0 Report the margin of error. 0 Report the condence interval. 0 Report {3 along with the margin of error. 0 Report {3. What is the margin of error based on a 95% condence interval? (Enter a number. Round your answer to three deCimal places.) E .actii.'a:e Wi I'ICl' - - .1. ,_,
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