Michael Gordon, a professional basketball player, threw 200 penalty shots and scored 174 of them.
a) Estimate the standard error of the ratio of all the shots that Michael fails.
b) Build a confidence interval of 98% for the proportion of all penalty shots that Michael fails.
SnackMore recently surveyed 95 consumers and found that 80% purchased SnackMore fat-free cookies each month.
a) Estimate the standard error of the ratio.
b) Construct a 95% confidence interval for the true proportion of people who buy cookies each month.