![]() How is the margin of error related to $\bar=. Compare the margin of error for the interval estimates in parts (a), (b), and (c). Develop a $95 \%$ confidence interval for the proportion who gave $\$ 25,000$ or more to charity.ĭ. Learn, step-by-step with screenshots, how to run an independent t-test in Minitab including learning about the assumptions and how to interpret the output. Five percent of the respondents gave $\$ 25,000$ or more to charity over the previous year. Develop a $95 \%$ confidence interval for the population proportion.Ĭ. Note 2: By default, Minitab uses 95 confidence intervals, which equates to declaring statistical significance at the p <. ![]() The survey reported that $31 \%$ of the respondents feel they have to save more for retirement to make up for what they lost. Develop a $95 \%$ confidence interval for the proportion of wealthy people who lost $25 \%$ or more of their portfolio value over the past three years.ī. The survey reported that $53 \%$ of the respondents lost $25 \%$ or more of their portfolio value over the past three years. The previous three-year period had been bad for the stock market, which motivated some of the questions asked.Ī. A Phoenix Wealth Management/Harris Interactive survey of 1500 individuals with net worth of $\$ 1$ million or more provided a variety of statistics on wealthy people (BusinessWeek, September 22,2003 ).
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