You want to estimate the proportion of gas stations in the state that have stopped accepting cash.

Question:

You want to estimate the proportion of gas stations in the state that have stopped accepting cash. You take a simple random sample of 150 stations. Twelve stations in the sample indicate that they have stopped accepting cash.
a. Build a 95% interval estimate of the overall station proportion based on your sample findings.
b. Build a 99% interval estimate of the overall station proportion based on your sample findings.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

Question Posted: