Buchanan corp. is refunding $10 million worth of 10% debt. the new bonds will be issued for 8%. The corporation's tax rate is 35
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Answer:
The 98% confidence interval estimate of the proportion of adults who use social media is (0.56, 0.6034).
Step-by-step explanation:
In a sample with a number n of people surveyed with a probability of a success of , and a confidence level of
, we have the following confidence interval of proportions.
In which
z is the zscore that has a pvalue of .
Of the 2809 people who responded to survey, 1634 stated that they currently use social media.
This means that
98% confidence level
So , z is the value of Z that has a pvalue of
, so
.
The lower limit of this interval is:
The upper limit of this interval is:
The 98% confidence interval estimate of the proportion of adults who use social media is (0.56, 0.6034).