Business stats?

Posted on 2016-03-04 18:51:00 in Statistics by SAMUEL

he manufacturer of the ColorSmart-5000 television set claims 95 percent of its sets last at least five years without needing a single repair. In order to test this claim, a consumer group randomly selects 424 consumers who have owned a ColorSmart-5000 television set for five years. Of these 424 consumers, 326 say their ColorSmart-5000 television sets did not need a repair, whereas 98 say their ColorSmart-5000 television sets did need at least one repair. 

(a) Find a 99 percent confidence interval for the proportion of all ColorSmart-5000 television sets that have lasted at least five years without needing a single repair. (Round your answers to 3 decimal places.)

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