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    Proportion of Adults Planning on Buying a New Car

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    A marketing research firm wishes to estimate the proportion of adults who are planning to buy a new car in the next 6 months. A simple random sample of 100 adults led to 22 who were planning to buy a new car in the next 6 months.

    a. Compute the 95% confidence interval for the proportion of adults who are planning to buy a new a car in the next 6 months.
    b. Interpret this confidence interval.
    c. How large a sample size will need to be selected if we wish to have a 95% confidence interval that is accurate to within 1%.

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    https://brainmass.com/statistics/confidence-interval/proportion-of-adults-planning-on-buying-a-new-car-519503

    Solution Preview

    (a) Given:
    p = 22/100 = 0.22
    n = 100
    z = 1.96
    The 95% confidence interval for the proportion of adults who are planning to buy a new a car in the next 6 months is given as ...

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