We can interpret the confidence interval given in Exercise 1 by saying that there is a 95% chance that the true population proportion will fall between 0.393 and 0.553.

Decide whether the statement makes sense (or is clearly true) or does not make sense (or is clearly false). Explain clearly.

Data From Exercise 1:-

In an Accountemps survey, senior executives were asked to identify the most common error made in interviews of job applicants. The following 95% confidence interval estimates the population proportion p for “little or no knowledge of the company.” Interpret that confidence interval.

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0.393 p < 0.553