Answer:
The 95% confidence interval for the fraction of all shoppers during the year whose visit was because of a coupon they'd received in the mail is (0.2016, 0.2694).
Step-by-step explanation:
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 
.
A store randomly samples 603 shoppers over the course of a year and finds that 142 of them made their visit because of a coupon they'd received in the mail.
This means that 
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 fraction of all shoppers during the year whose visit was because of a coupon they'd received in the mail is (0.2016, 0.2694).
See, in these type of questions always first assume your original price to be x. And now try to write whatever information is given to you.
Now, you have that it has been sold for 12% profit, so basically it is sold at. (1 + (12/100))x = 1.12x
Now it is given that if it had been sold for 33₹ more. I.e. if it had been sold at. 1.12x + 33
Net gain would have been 14%.
So gain of 14%, means the cost to be (1+(14/100))x = 1.14x
And basically both 1.12x +33 and 1.14x are final costs, so
1.14x = 1.12x + 3
=> 1.14x - 1.12x = 3
=> 0.02x = 3
=> x = 3÷0.02
=> x= 1650₹
So original cost is 1650₹.
Hope you understand the solution and the way to tackle these type of problems if not then let me know.
hope it helps
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The answer is Accuracy. Accuracy is the closeness of a measurement to the actual vaule.
