All patients admitted to a particular hospital can be released on the same day or kept overnight for observation. In a sample of 2550 patients, 1020 were kept overnight for observation a) What is the...

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Extracted text: All patients admitted to a particular hospital can be released on the same day or kept overnight for observation. In a sample of 2550 patients, 1020 were kept overnight for observation a) What is the point estimate p for the proportion of all patients kept overnight for observation? b) Construct a 99% confidence interval for the proportion of all patients kept overnight for observation. Question 2 Grace Floral Shop claims that their average daily earnings is $497. An auditor wants to determine whether this claim is true. The auditor randomly selected a sample of 100 days and found that the sample mean earnings was $495 with a sample standard deviation of 9.75. a) Calculate the 97% confidence interval for the population mean daily earning. Assist the auditor in conducting a hypothesis test, at the 3% level of significance, to determine whether the claim about their average daily earnings was overstated. b) State the null and the alternative hypothesis for this test. c) Using the p-value approach, state the decision rule for this test. d) Calculate the value of the test statistic for this test. e) Calculate the p-value for this test? f) State the conclusion of this test. Give reason for your answer.