brianv5914 brianv5914

25-05-2023
Mathematics

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12. (8 points) a) Suppose that a market research firm is hired to estimate the percent of adults who pay with a credit card at restaurants. Three thousand diners were randomly selected and 2,348 of them reported that they pay with a credit card. At the 90% level of confidence, find the margin of error, E, and the confidence interval estimate for the true population proportion of adults who pay with a credit card at restaurants. b) What sample size is required if the market research firm wishes that the estimate is within one percentage point with 95% confidence, assuming the firm uses the value of obtained in part (b)?

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