Step-by-step explanation:
In the first year if ownership, a new car lose 20% of its value. If a car lost $4,200 value in the first year, how much did the
1 answer:
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Answer:
The population proportion is estimated to be with 99% confidence within the interval (0.1238, 0.2012).
Step-by-step explanation:
The formula for estimating the population proportion by a confidence interval is given by:
Where:
is the sample's proportion of success, which in this case is the people that regularly lie during surveys,
is the critical value needed to find the tails of distribution related to the confidence level,
is the sample's size.
<u>First</u> we compute the value:
<u>Next</u> we find the z-score at any z-distribution table or app (in this case i've used StatKey):
Now we can replace in the formula with the obtained values to compute the confidence interval:
