online sales in the united states from july to september 2019 totaled $153 billion. a survey shows that the…

online sales in the united states from july to september 2019 totaled $153 billion. a survey shows that the online sales from july to september 2020 were 36.7% higher, with a margin of error of ±2.1%, when compared to the same months in 2019. select an amount of money for each blank to estimate the online sales from july to september 2020. the estimated online sales for july to september 2020 were between and

online sales in the united states from july to september 2019 totaled $153 billion. a survey shows that the online sales from july to september 2020 were 36.7% higher, with a margin of error of ±2.1%, when compared to the same months in 2019. select an amount of money for each blank to estimate the online sales from july to september 2020. the estimated online sales for july to september 2020 were between and

Answer

Explanation:

Step1: Calculate the lower - bound

First, find the base increase without considering the margin of error. The online sales in 2019 were $153$ billion. The increase rate is $36.7%$. The amount of increase without margin of error is $153\times0.367 = 153\times\frac{367}{1000}=56.151$ billion. The lower - bound of the sales in 2020 considering the margin of error is calculated as follows. The lower - bound of the increase rate is $36.7%-2.1% = 34.6%$. So the lower - bound of the sales in 2020 is $153\times(1 + 0.346)=153\times1.346 = 205.938$ billion.

Step2: Calculate the upper - bound

The upper - bound of the increase rate is $36.7%+2.1%=38.8%$. So the upper - bound of the sales in 2020 is $153\times(1 + 0.388)=153\times1.388 = 212.364$ billion.

Answer:

The estimated online sales for July to September 2020 were between $205.938$ billion and $212.364$ billion.