Answer:
Where is the picture? Do we need a picture with this?
It can be used as a government intervention tool keep consumers and suppliers in order. An example of a regulation can be the minimum age to buy cigarettes and alcohol to stop teen substance abuse. Governments would create regulations in mixed market economies as it gives incentives to be more efficient. It limits government interference due to harsh rulings. There will be some what of a close in the equality gap as everyone would be treated fairly and there would be more stability in the economy
Assume all conditions for inference have been met, based on the confidence interval, the claim that is supported is that;
More than half of all people prefer texting.
<h3>Understanding Confidence Intervals</h3>
We are given;
Confidence Level; CL = 95%
Margin of error; MOE = 3%
Since 56 percent of the respondents prefer to use cell phones for texting rather than for making phone calls. It means that; x' = 56%
Thus;
CI = x' ± MOE
CI = 56% ± 3%
CI = 53% OR 59%
Thus, in conclusion we can say that more than half of the people prefer texting
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