The Future-Vision Company is considering applying for a franchise to market satellite television dish systems in a Florida market area. As part of the company’s research into this opportunity, staff in the new acquisitions department conducted a survey of 548 homes selected at random in the market area. They asked a number of questions on the survey. The data for some of the variables are in a file called Future-Vision. One key question asked whether the household was currently connected to cable TV.
a. Using the sample information, what is the 95% confidence interval estimate for the true proportion of households in the market area that subscribe to cable television?
b. Based on the sample data, develop a 95% confidence interval estimate for the mean income and interpret this estimate.