Car Value: In one year a new car decreased in value by 20%. If it sold for $19,400 when it was new, what was it worth after 1 ye
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Step-by-step explanation:
c^2 = a^2 + b^2
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Answer:
Step-by-step explanation:
For this case we have a sample size of n = 250 units and in this sample they found that 24 units failed one or more of the tests.
We are interested in the proportion of units that fail to meet the company's specifications, and we can estimate this with:
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The confidence interval for a proportion is given by this formula
For the 98% confidence interval the value of and
, with that value we can find the quantile required for the interval in the normal standard distribution.
And the margin of error would be: