30 PIONTS AND BRAINLEST TO WHO EVER ANSWERS WITH A REASONABLE EXPLANATION . A newspaper started an online version of its paper 1
4 years ago. In a recent presentation to stockholders, the lead marketing executive states that the revenues for online ads have more than doubled that of the revenues for printed ads since starting the online version of the paper. Use the graph below to justify the lead executive’s statement. Determine the approximate year that the two ad revenues were equal.
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Answer:
And rounded up we have that n=385
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
In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by and
. And the critical value would be given by:
The margin of error for the proportion interval is given by this formula:
(a)
And on this case we have that and we are interested in order to find the value of n, if we solve n from equation (a) we got:
(b)
We assume that the estimated proportion for this case is since we don't have prior information.
And replacing into equation (b) the values from part a we got:
And rounded up we have that n=385