Assignment : "Consider when businesses might use confidence intervals to estimate values, such as in sales projections, marketing results, and so forth. Describe a business decision that could be helped with confidence intervals. Be specific! Then create a problem with numbers from which another student could calculate a confidence interval and make a decision".

EXAMPLE GIVEN BY PROFESSOR

"Here is an example of abusiness problem that relates to scheduling courses at DeVry:

DeVry uses confidence intervals to determine the number of sections of each class to offer.

Suppose that I look at ten sections (350 students) of Keller classes over the past couple of sessions, and determine that, on the average, 15% of the students in those classes wanted to take MATH534 the following session.

Construct a 95% confidence interval for the true percentage of students who want MATH534 next session.

Bonus question:There are currently 4854 students enrolled in Keller for July 2021.If each MATH534 class has a max enrollment of 40, what is thefewestnumber (with 95% confidence) of MATH534 sections that we should schedule forSeptember 2021?"