From a collection of 52 store customers, 3 are to be chosen to receive a special gift. How many groups of 3 customers are possib
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Answer:
The store can be 90% confident that the interval from 0.293 to 0.355 captures the proportion of all customers of this store who have moved in the past 5 years.
Step-by-step explanation:
The confidence interval provides a range of values (lower and upper bound) based on a certain confidence level at which the true proportion or mean value of a given sample mean or proportion exists. In the scenario above, the confidence level is 90% and the confidence interval is 0.293 to 0.355. Hence, we can be 90% confident that the true proportion of all customers of the store who have moved within the last five years exists within this interval.
