MATH SOLVE

4 months ago

Q:
# A 90% confidence interval for the mean percentage of airline reservations being canceled on the day of the flight is (1.1%, 3.2%). what is the point estimator of the mean percentage of reservations that are canceled on the day of the flight?

Accepted Solution

A:

Error = 1/2(Maximum range - Minimum range) = 1/2(3.2-1.1) = % = 0.0105

If p is the point estimator;

Then,

Minimum range = p - Error

Maximum range = p + Error

Solving one of the two expressions,

0.011 = p - 0.0105 => p = 0.011+0.0105 = 0.0215 = 2.15%

If p is the point estimator;

Then,

Minimum range = p - Error

Maximum range = p + Error

Solving one of the two expressions,

0.011 = p - 0.0105 => p = 0.011+0.0105 = 0.0215 = 2.15%