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We want to be rich Refer to Exercise 46. (a) Construct and interpret a 95% confidence
Chapter 9, Problem 48(choose chapter or problem)
We want to be rich Refer to Exercise 46. (a) Construct and interpret a 95% confidence interval for the true proportion p of all first-year students at the university who would identify being well-off as an important personal goal. (b) Explain what the interval in part (a) tells you about whether the national value holds at this university.
Questions & Answers
QUESTION:
We want to be rich Refer to Exercise 46. (a) Construct and interpret a 95% confidence interval for the true proportion p of all first-year students at the university who would identify being well-off as an important personal goal. (b) Explain what the interval in part (a) tells you about whether the national value holds at this university.
ANSWER:Step 1 of 4
(a)
Given:
The sample proportion is the number of successes divided by the sample size: