In a marketing survey, a random sample of 730 women shoppers revealed that 628 remained loyal to their favorite supermarket during the past year (i.e., did not switch stores).
(a) Let p represent the proportion of all women shoppers who remain loyal to their favorite supermarket. Find a point estimate for p.
(b) Find a 95% confidence interval for p. Give a brief explanation of the meaning of the interval.
(c) As a news writer, how would you report the survey results regarding the percentage of women supermarket shoppers who remained loyal to their favorite supermarket during the past year? What is the margin of error based on a 95% confidence interval?