by selling an item at $20.70, a trader makes a profit of 15%. at what price should he sell the item so as to make a profit of 35
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Using the z-distribution, the 99% confidence interval to estimate the population proportion is: (0.2364, 0.4836).
<h3>What is a confidence interval of proportions?</h3>A confidence interval of proportions is given by:
In which:
is the sample proportion.
- z is the critical value.
- n is the sample size.
In this problem, we have a 99% confidence level, hence, z is the value of Z that has a p-value of
, so the critical value is z = 2.575.
The estimate and the sample size are given by:
.
Then the bounds of the interval are:
The 99% confidence interval to estimate the population proportion is: (0.2364, 0.4836).
More can be learned about the z-distribution at brainly.com/question/25890103
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