February 26, 2017

Homework Help: Statistics

Posted by Steven on Monday, March 4, 2013 at 4:04pm.

A company that manufactures exercise machines wanted to know the percentage of large companies that provides on-site health club facilities. A sample of 240 such companies showed that 96 of them provide such facilities on site.

a. What is the point estimate of the percentage of all such companies that provide these facilities? Explain briefly the concept of the point estimate.

b. Construct a 97% confidence interval for the percentage of all such companies.

c. What is the margin of error for this estimate?

d. If the company wanted a narrower interval, name two things it could do.

e. Which is the better strategy and why?

f. What does it mean to have a 97% confidence in the interval?

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