A grocery store chain has been tracking data on the number of shoppers that use coupons. the data shows that 71% of all shoppers
1 answer:
The confidence interval comes out to be (0.685,0.735).
Calculating the Confidence Level and Other Terms
The confidence level can be calculated as follows,
z = %
z = 90 %
The margin error is given as, E= 0.025
The p value in this case is 0.71
Calculating the Confidence Interval
The mean of your estimate plus and minus the range of that estimate constitutes a confidence interval. Within a specific level of confidence, this is the range of values you anticipate your estimate to fall within if you repeat the test.
Confidence interval can be obtained by using the following formula,
(p-E, p+E) = (0.71-0.025, 0.71+0.025).
Therefore, the confidence interval is (0.685, 0.735).
Learn more about confidence interval here:
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You can either use the usual formula for the equation of a line when given two points
Or we can make some more precise reasoning, specific to this case: the y intercept is 3. When a line is written as , the coefficient q is the y intercept. So, the second and third options are surely wrong.
Moreover, the slope m is the ratio between the difference bewteen the y coordinates and the x coordinates of two points on the line.
In our case, the two points differ by -1 units vertically, and 3 units horizontally. This implies that the slope is -1/3.
So, we have