12. [-/8.37 Points] For this problem, carry at least four digits after the decimal in your calculations. Answers may var

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12 8 37 Points For This Problem Carry At Least Four Digits After The Decimal In Your Calculations Answers May Var 1 (133 KiB) Viewed 10 times

12. [-/8.37 Points] For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding. In a marketing survey, a random sample of 1010 supermarket shoppers revealed that 268 always stock up on an item when they find that item at a real bargain price. (a) Let p represent the proportion of all supermarket shoppers who always stock up on an item when they find a real bargain. Find a point estimate for p. (Enter a number. Round your answer to four decimal places.) DETAILS (b) Find a 95% confidence interval for p. (For each answer, enter a number. Round your answers to three decimal places.) lower limit upper limit BBBASICSTAT8ACC 8.3.020.S. Give a brief explanation of the meaning of the interval. O We are 95% confident that the true proportion of shoppers who stock up on bargains falls outside this interval. O We are 95% confident that the true proportion of shoppers who stock up on bargains falls within this interval. O We are 5% confident that the true proportion of pers who up on bargains falls within this interval. O We are 5% confident that the true proportion of shoppers who stock up on bargains falls above this interval. (c) As a news writer, how would you report the survey results on the percentage of supermarket shoppers who stock up on items when they find the item is a real bargain? O Report p. O Report the margin of error. O Report the confidence interval. O Report p along with the margin of error. Need Help? What is the margin of error based on a 95% confidence interval? (Enter a number. Round your answer to three decimal places.) Read It MY NOTES ASK YOUR TE