For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding. In a marketing survey, a random sample of 1018 supermarket shoppers...


For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding.


In a marketing survey, a random sample of 1018 supermarket shoppers revealed that 270 always stock up on an item when they find that item at a real bargain price.



(a) Let
p
 represent the proportion of all supermarket shoppers who always stock up on an item when they find a real bargain. Find a point estimate for
p
. (Enter a number. Round your answer to four decimal places.)


(b) Find a 95% confidence interval for
p
. (For each answer, enter a number. Round your answers to three decimal places.)


lower limit
upper limit


Give a brief explanation of the meaning of the interval.

We are 5% confident that the true proportion of shoppers who stock up on bargains falls within this interval.


We are 95% confident that the true proportion of shoppers who stock up on bargains falls within this interval.


We are 95% confident that the true proportion of shoppers who stock up on bargains falls outside this interval.


We are 5% confident that the true proportion of shoppers who stock up on bargains falls above this interval.



(c) As a news writer, how would you report the survey results on the percentage of supermarket shoppers who stock up on items when they find the item is a real bargain?


Report p̂ along with the margin of error.


Report the confidence interval.


Report the margin of error.


Report p̂.


What is the margin of error based on a 95% confidence interval? (Enter a number. Round your answer to three decimal places.)
Jun 02, 2022
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