Six Hundred Consumers Were Asked Whether They Would Like to Purchase

question 45

Short Answer

Six hundred consumers were asked whether they would like to purchase a domestic or a foreign automobile. Their responses are given below.
Develop a 95% confidence interval for the proportion of all consumers who prefer to purchase domestic automobiles.

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Definitions:

Statistical Estimate

A value derived from a sample data used to indicate an unknown value in the population.

Total Variance

In statistics, it refers to the sum of squared differences between each observation and the overall mean, representing the total spread of a dataset.

Heritability

Refers to the proportion of variation in traits within a population that can be attributed to genetic differences among individuals.

Sociobiologists

Scientists who study the biological basis of social behavior across species, including humans.