Explain how (-2) + 8 is equal to 6
1 answer:
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Answer:
(0.3798, 0.4602)
Step-by-step explanation:
Let p be the true proportion of US adults who believe raising the minimum wage will help the economy. A point estimate for p is and a good aproximation (because we have a large sample) for the standard deviation of
is
. Therefore, a 99% confidence interval for p is given by
where
and
is the
th quantile of the standard normal distribution, so we have,
, i.e.,
or equivalently (0.3798, 0.4602).