The question for this problem is “The owner of a food cart sells an average of 120 frozen treats per day during the summer”.
2 answers:
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Supposing that the stock increases in 37 days, the 95% confidence interval for the proportion of days JMJ stock increases is: (0.484, 0.7292)
- The lower bound is of 0.484.
- The upper bound is of 0.7292.
- The interpretation is that we are <u>95% sure that the true proportion</u> of all days in which the JMJ stock increases <u>is between 0.484 and 0.7292.</u>
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 z-score that has a p-value of .
Supposing that it increases on 37 out of 61 days:
95% confidence level
So , z is the value of Z that has a p-value of
, so
.
The lower limit of this interval is:
The upper limit of this interval is:
The 95% confidence interval for the proportion of days JMJ stock increases is (0.484, 0.7292), in which 0.484 is the lower bound and 0.7292 is the upper bound.
The interpretation is that we are <u>95% sure that the true proportion</u> of all days in which the JMJ stock increases <u>is between 0.484 and 0.7292.</u>
A similar problem is given at brainly.com/question/16807970