Question

A car manufacturer randomly samples and interviews 1,000 consumers in a target market. Of the 1,000 interviewed, 93 indicated that they are likely to purchase a car from this manufacturer.

Keep as many decimals as possible in your computations, but please enter the final answers to three decimal places.

a)Define the parameter pp of interest in full context.

b) Compute the value of the statistic p^

c)Compute the 95% confidence interval estimating pp.

d) Interpret the confidence interval in full context.

e) Using this interval, would you conclude that the proportion of consumers likely to purchase a car from this manufacturer differs from 10%? Why or why not?

Answer 1