Emma Co. sold to Isabella Co. merchandise on account FOB shipping point, 2/10, net 30, for $9,200. Emma Co. prepaid the $840 shi
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Calculate the sample proportion (198 yes responses out of 316).
We want to test against a sample size of n = 2200 daily passengers.
In order to use the normal distribution, we should satisfy
2200*0.6266 = 1378.5
2200*(1-0.6266) = 821.5
We may use the normal distribution.
Let us use a 95% confidence interval.
The estimate for the population proportion is
where z* = 1.96 at the 95% confidence level.
Therefore
p = 0.6266 +/-0.0202 = (0.6064, 0.6468)
Answer:
At the 95% confidence level, about 60% to 64% of regular passengers will buy snacks on the train.
We want to test against a sample size of n = 2200 daily passengers.
In order to use the normal distribution, we should satisfy
2200*0.6266 = 1378.5
2200*(1-0.6266) = 821.5
We may use the normal distribution.
Let us use a 95% confidence interval.
The estimate for the population proportion is
where z* = 1.96 at the 95% confidence level.
Therefore
p = 0.6266 +/-0.0202 = (0.6064, 0.6468)
Answer:
At the 95% confidence level, about 60% to 64% of regular passengers will buy snacks on the train.