An automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic. Step 2 of 2 : Suppose a sample of 768 new car buyers is drawn. Of those sampled, 192 preferred foreign over domestic cars. Using the data, construct the 80% confidence interval for the population proportion of new car buyers who prefer foreign cars over domestic cars. Round your answers to three decimal places.

The 80% confidence interval for the population proportion of new car buyers who prefer foreign cars over domestic cars is (0.23, 0.27).

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of , and a confidence level of , we have the following confidence interval of proportions.

In which

z is the zscore that has a pvalue of .

Suppose a sample of 768 new car buyers is drawn. Of those sampled, 192 preferred foreign over domestic cars.

This means that

80% confidence level

So , z is the value of Z that has a pvalue of , so .

The lower limit of this interval is:

The upper limit of this interval is:

The 80% confidence interval for the population proportion of new car buyers who prefer foreign cars over domestic cars is (0.23, 0.27).

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step-by-step explanation:

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