Q Question 1. Version 2*/2. Score: 27/27Expand Part 1 of 8 In 2015, 33% of all U.S. sales transactions were in cash. In a recent random sample of 1200 sales transactions, 302 were in cash. Use a 98% confidence interval for the percentage of all U.S. sales transactions in cash to test whether or not 33% of U.S. sales transactions are in cash. Use the "PANIC" procedure discussed in class to analyze this situation. P: Parameter What is the correct parameter symbol for this problem? What is the wording of the parameter in the context of this problem?: Assumptions • Since Correct information was collected from each object, what conditions do we need to check? Select all that apply. N: Name the procedure The conditions are met to use a I: Interval and point estimate The symbol and value of the point estimate on this problem are as follows. Correct = $\frac{302}{1200}$3021200Correct Leave answer as a fraction. Part 6 of 8 The interval estimate for Correct is ( Correct , Correct) Round endpoints to 3 decimal places. Part 7 of 8 C: Conclusion State the meaning of your confidence interval in words.