An automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic Step 1 of 2: Suppose a sample of 2676 new car buyers is drawn. Of those sampled, 642 preferred foreign over domestic cars. Using the data, estimate the proportion of new car buyers who prefer foreign cars. Enter your answer as a fraction or a decimal number rounded to three decimal places. AnswerHow to Enter 2 Points Tables Keypad Keyboard Shortcuts An automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic. Step 2 of 2: Suppose a sample of 2676 new car buyers is drawn. Of those sampled, 642 preferred foreign over domestic cars. Using the data, construct the 98 % confidence interval for the population proportion of new car buyers who prefer foreign cars over domestic cars. Round your answers to three decimal places, Answer low to Enter) 2 Points T Tables Keypad Keyboard Shortcuts Lower endpoint Upper endpoint:

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14-07-2022
Mathematics

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An automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic Step 1 of 2: Suppose a sample of 2676 new car buyers is drawn. Of those sampled, 642 preferred foreign over domestic cars. Using the data, estimate the proportion of new car buyers who prefer foreign cars. Enter your answer as a fraction or a decimal number rounded to three decimal places. AnswerHow to Enter 2 Points Tables Keypad Keyboard Shortcuts An automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic. Step 2 of 2: Suppose a sample of 2676 new car buyers is drawn. Of those sampled, 642 preferred foreign over domestic cars. Using the data, construct the 98 % confidence interval for the population proportion of new car buyers who prefer foreign cars over domestic cars. Round your answers to three decimal places, Answer low to Enter) 2 Points T Tables Keypad Keyboard Shortcuts Lower endpoint Upper endpoint:

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yogeshkumar49685 yogeshkumar49685 · Answer 1 · 2022-07-19T09:12:02+02:00

The proportion of people who preferred foreign cars than domestic cars is 0.24 and the confidence interval for the population proportion of new cars over domestic cars of 98% confidence interval is (641.955,642.045).

Given sample size of 2676 and number of people preferred foreign cars than domestic cars is 642.

We have to calculate the proportion of people who preferred foreign cars than domestic cars and the confidence interval which shows the confidence interval of 98%.

Number of people prefer foreign cars than domestic cars=642

Sample size=2676

Proportion=642/2676

=0.2399

=0.24 (After rounding off)

Now we will find confidence interval.

X=642

n=2676

z value for the confidence interval 98% is 2.33

Confidence interval =X± z*s/[tex]\sqrt{n}[/tex]

Upper =642+2.33*1/[tex]\sqrt{2676}[/tex] (we have taken s=1)

=642+0.045

=642.045

Lower=642-2.33*1/[tex]\sqrt{2676}[/tex]

642-0.045 (putting values in formula given above)

=641.955

Hence the proportion of people preferred foreign cars than domestic cars is 0.24 and the confidence interval is (641.955,642.045).

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