Question

A student is considering publishing a new magazine aimed directly at owners of Japanese automobiles. He wants to estimate the fraction of cars in the United States that are made in Japan. The computer output to the right summarizes the results of a random sample of 50 autos. Explain carefully what it tells you.

Answer 1

Answer:

We are 95 percent sure that between 34.9 percent and 49.5 percent of cars are made in Japan in the United States.

Explanation:

Using the survey statistics, the confidence intervals are used to approximate the distribution to the population parameter.

It still does not offer the parameter's accurate figure, however the interval in which that parameter may lie with a certain fixed trust or probability level.

Hence: Interpretation of the specified interval can be: We are 95 percent sure that between 34.9 percent and 49.5 percent of cars are made in Japan in the United States.