THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The sales manager for a hardware wholesaler finds that 229 of the previous 500 calls to hardware store owners resulted in new product placements.Assume that the 500 calls represent a random sample.
-Give a careful verbal interpretation of the 95% confidence interval for the long-run proportion of new product placements.

Question

Quizplus · Accepted Answer

The Answer of THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The sales manager for a hardware wholesaler finds that 229 of the previous 500 calls to hardware store owners resulted in new product placements.Assume that the 500 calls represent a random sample.
-Give a careful verbal interpretation of the 95% confidence interval for the long-run proportion of new product placements.