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Chapter 7: Q4 (page 350)

Loose Change USA Todayreported that 40% of people surveyed planned to use accumulated loose change for paying bills. The margin of error was given as 卤3.1 percentage points. Identify the confidence interval that corresponds to that information.

Short Answer

Expert verified

The confidence interval that corresponds to the provided information is 36.9% < p < 43.1%.

Step by step solution

01

Given information

The percentage of people who planned to use accumulated loose change for paying bills is 40%.

The margin of error is 卤3.1percentage points.

02

Compute the confidence interval

From the given information, the following points can be concluded:

The proportion of people who planned to use accumulated loose change for paying bills is p^=0.40.

The margin of error is E=0.031.

The confidence interval is computed as follows:

(p^-E,p^+E)=0.40-0.031,0.40+0.031=0.369,0.431

Therefore, the confidence interval is36.9% < p < 43.1%.

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