a fan is marked up 40% on the original price the original price was $20 what is thevnew price if the fan before sales tax
1 answer:
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Answer:
a. 0.1576<p<0.2310
b. The two restaurants likely have similar order rates which are inaccurate.
Step-by-step explanation:
a. We first calculate the proportion, :
-We use the z-value alongside the proportion to calculate the margin of error:
The confidence interval at 90% is then calculated as:
Hence, the confidence interval at 90% is [0.1576,0.2310]
b. From a above, the calculated confidence interval is 0.1576<p<0.2310
-We compare the calculated CI to the stated CI of 0.147<p<0.206
-The two confidence intervals overlap each other and have the same value for 0.1576<p<0.206
-Hence, we conclude that the two restaurants likely have similar order rates which are inaccurate.