When a movie is half over popcorn sells for half pric which expression can be used to determine the new cost o 3 orders of popco
1 answer:
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Answer:
And rounded up we got:
Step-by-step explanation:
Data given and previous concepts
ME=0.1 represent the margin of error desired
Confidence =0.95 or 95%
represent the significance level
z represent the quantile from the normal standard distribution
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
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 population proportion have the following distribution
Solution to the problem
In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by and
. And the critical value would be given by:
The confidence interval for the mean is given by the following formula:
The margin of error for the proportion interval is given by this formula:
(a)
And on this case we have that and we are interested in order to find the value of n, if we solve n from equation (a) we got:
(b)
Since we don't have a prior estimate for the proportion we can use as estimator 0.5 and replacing into equation (b) the values from part a we got:
And rounded up we have that n=97