Question

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 276 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. (Round your answer to four decimal places.)

(b) Find a 95% confidence interval for p. (Round your answers to three decimal places.)

lower limit

upper limit

Answer 1

a ) Point Estimate = 0.2711

b ) 95 % C I for P is,

Lower Limit = 0.244

Upper Limit = 0.298