Answer:
There is 95% confidence that the true proportion of people who say that a car is a necessity lies in the interval (0.83, 0.89).
Step-by-step explanation:
A (1 - α)% confidence interval for population proportion is given by:
[tex]CI=\hat p\pm z_{\alpha/2}\times \sqrt{\frac{\hat p(1-\hat p)}{n}[/tex]
The sample size is, n = 1483.
The 95% confidence interval for the population proportion of people who say that a car is a necessity is,
CI = (0.83, 0.89)
A (1 - α)% confidence interval for a population parameter implies that there is (1 - α) probability that the true parameter value is contained in the interval.
Or, there is (1 - α)% confidence that the confidence interval consists of the true population parameter value.
The 95% confidence interval for the population proportion of people who say that a car is a necessity implies that the true proportion of people who say that a car is a necessity lies in the interval (0.83, 0.89) with a probability of 0.95.
Or, there is 95% confidence that the true proportion of people who say that a car is a necessity lies in the interval (0.83, 0.89).
