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Answer:
On this case a margin of error of means that the true population proportion is 1% above or below the estimated proportion calculated from the sample. And this value helps in order to find the limits for a confidence interval with a confidence given.
Step-by-step explanation:
Previous concepts
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The population proportion have the following distribution
Solution to the problem
The margin of error for the proportion interval is given by this formula:
(a)
On this case a margin of error of means that the true population proportion is 1% above or below the estimated proportion calculated from the sample. And this value helps in order to find the limits for a confidence interval with a confidence given.
Answer:
$24.375
Step-by-step explanation:
Regular price of sandals = $32.50
Store sells sandals for 25% of the regular price.
Hence selling price =(100-25)% of the regular price.
In other words, selling price = 75% of regular price
= 75% of $32.50
=
=
Hence the sale price of the sandals is $24.375
This is $8.125 less than the regular price of the sandal.