Confidence interval for the long-run proportion

Reference no: EM13103194

The sales manager for a hardware wholesaler finds that 229 of the previous 500 calls to hardware store owners resulted in new product placements. Assume these 500 calls represent a random sample.

Find a 95% confidence interval for the long-run proportion of new product placements?

What level of confidence is associated with an interval of .400513 to .515487 for the long run proportion of new product placements?

Reference no: EM13103194

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