4 The rate of compound interest is 7.5%. How long will it take for an investment of $4500 to
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Answer:
The 85% onfidence interval for the population proportion of new car buyers who prefer foreign cars over domestic cars is (0.151, 0.205).
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 zscore that has a pvalue of .
For this problem, we have that:
Sample of 421 new car buyers, 75 preferred foreign cars. So
85% confidence level
So , z is the value of Z that has a pvalue of
, so
.
The lower limit of this interval is:
The upper limit of this interval is:
The 85% onfidence interval for the population proportion of new car buyers who prefer foreign cars over domestic cars is (0.151, 0.205).