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Statement of a problem № m1396

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A marketing research firm wishes to estimate the proportion of adults who are planning to buy a new car in the next 6 months. A simple random sample of 100 adults led to 22 who were planning to buy a new car in the next 6 months. a. Compute the 95% confidence interval for the proportion of adults who are planning to buy a new car in the next 6 months. b. Interpret this confidence interval. c. How large a sample size will need to be selected if we wish to have a 95% confidence interval that is accurate to within 1%.




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