Question: Repeat parts (c) and (d) from Exercise 3.2.14 but construct a 99% confidence interval. How do the width and midpoint of this confidence compare to
Repeat parts (c) and (d) from Exercise 3.2.14 but construct a 99% confidence interval. How do the width and midpoint of this confidence compare to the 95% confidence interval.
Data from Exercise 3.2.14
With the increased use of credit cards, debit cards, and other electronic methods of payment, will the United States eventually stop using cash? In a July 2016 Gallup poll of a random sample of 1,024 U.S. adults, 635 of them thought the United States would become a cashless society in their lifetimes.
c. Find a theory-based 95% confidence interval for the population parameter and interpret the confidence interval you obtained in the context of the problem.
d. Based on your confidence interval, is there strong evidence that the proportion of Americans who think the United States would become a cashless society in their lifetime is different than 0.65? Explain how you are determining this.
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