Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I am confused, please help :) 2. The following is a random sample of purchases at the drive-up window of a fast-food establishment: Cash Credit
I am confused, please help :)
2. The following is a random sample of purchases at the drive-up window of a fast-food establishment: Cash Credit Card Credit Card Cash Credit Card Credit Card Credit Card Credit Card Credit Card Cash Credit Card Cash Credit Card Credit Card Cash Credit Card Cash Cash Credit Card Cash Credit Card Cash Cash Credit Card Credit Card Cash Credit Card Credit Card Credit Card Cash Cash Cash Credit Card Credit Card Credit Card Cash Our goal is to construct a 99% confidence interval for the population proportion of sales made with a credit card in this particular fast-food establishment. (Round the values to 2 decimal places. e.g.. 12.34) (3) Check the three assumptions. (b) Find out the three components for the 99% confidence interval. (c) Calculate and interpret the 99% confidence interval for the population proportion of credit card transactions. (d) Given the confidence level. can we say the population proportion differs from 0.3? (e) Suppose we decrease the confidence level. Can we say the true proportion is different from 0.3? (Answer this question without calculations.)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started