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Estimate the total retail value of the greeting cards

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Reference no: EM131689545

Question: 1. If p = 0.04, n = 300, and N = 5,000, calculate the upper bound for a one-sided confidence interval estimate of the population proportion,π , using the following levels of confidence:

a. 90%

b. 95%

c. 99%

2. A stationery store wants to estimate the total retail value of the 1,000 greeting cards it has in its inventory. Construct a 95% confidence interval estimate of the population total value of all greeting cards that are in inventory if a random sample of 100 greeting cards indicates a mean value of $2.55 and a standard deviation of $0.44.

Reference no: EM131689545

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