Determine the proportion of their charge accounts

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The Independent Department Store wants to determine the proportion of their charge accounts that have an unpaid balance of $1,500 or more. A sample of 250 accounts revealed that 100 of them had an unpaid balance of $1,500 or more. What is the 99 percent confidence interval for the population proportion? Would it be reasonable to conclude that more than half of the account balances are more that $1,500?

Reference no: EM131099013

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