THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 46

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In a random sample of 125 large retailers,90 used regression as a method of forecasting.In an independent random sample of 160 small retailers,80 used regression as a method of forecasting.
-Find a 95% confidence interval for the difference between the two population proportions.

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Definitions:

Correlation Coefficient

Represented by r, it is a number between −1 and 1, inclusive, that is used to judge how closely a line fits the data.

Median

The middle value in a data set when the values are arranged in ascending or descending order.

Discretionary Expense

Non-essential spending or expenses that an individual chooses to make, which can be cut without impacting their ability to cover basic living costs.

Measures Of Central Tendency

Single numbers, such as the mean, median, and mode, designed to represent a “typical” value for the data.