Question
Minority ownership of franchises. According to a 2011 report for IFA Educational Foundation, of all franchised businesses in the United States are minority owned. (This information is based on the U.S. Census Bureau's survey of 27 million business owners.) Suppose that you obtain a sample of 100 franchised businesses located in Mississippi and find that 15 are owned by minorities. Does this result lead you to conclude that the percentage of minority-owned franchises in Mississippi is less than the national value of ? Explain.
Solution
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Step 1
1 of 7Given:
We need to determine a confidence interval about the population proportion .
The confidence interval about the population proportion is with .
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