12) Is cryptocurrency the new lottery? Coinbase, a cryptocurrency exchange company, put a poll on
their app to ask their users if investing in cryptocurrency was similar to playing the lottery. Of the 1,230 people
who responded, 967 of them say that investing in cryptocurrency was similar to playing the lottery. Coinbase
used that data to write an article, claiming that 77% of people believe that cryptocurrency is similar to playing
the lottery. They reported that the poll had a 95% confidence level with a margin of error of ±2.3%. Which of
the following is the correct conclusion?
(A) We are 95% confident that the true proportion of people who believe that investing in cryptocurrency is
similar to playing the lottery is between 0.786 and 0.809.
(B) We are 95% confident that the true proportion of Coinbase's users who believe that investing in
cryptocurrency is similar to playing the lottery is between 0.786 and 0.809.
(C) The data was not gathered by random selection, so no proper conclusion can be drawn.
(D) 967 is not less than 10% of 1,230, so the independence condition is violated.
(E) The large counts condition is violated, so we cannot assume that the sampling distribution will be
approximately normal.