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Roadblocks From time to time police set up roadblocks to check cars to see if the safety inspection is up to date. At one such roadblock they issued tickets for expired inspection stickers to 22 of 628 cars they stopped.
a. Based on the results at this roadblock, construct and interpret a 95% confidence interval for the proportion of autos in that region whose safety inspections have expired.
b. Explain the meaning of "95% confidence" in part a.
Legal Enforceability
The characteristic of a contract or agreement that allows it to be upheld or compelled by law.
Perfection
The state of being free from all flaws or defects, or achieving the highest degree of excellence.
Balloon-Payment Mortgage
A mortgage that has relatively low fixed payments during the life of the mortgage followed by one large final (balloon) payment.
Equity
Fairness or justice as applied in the correction of law or the ownership interest in a company or property.
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