In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2017 Gallup surveyed a random sample of U.S. adults (news.gallup.com/poll/208820/americans-favor-real-estate-long-terminvestment. aspx). Respondents were asked to select the best long-term investment from a list of possibilities. Only 183 of the 1019 respondents chose gold as the best long-term investment. By contrast, only 51 chose bonds.

Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context of the question. Do you think opinions about the value of gold as a long-term investment have really changed from the old 34% favorability rate, or do you think this is just sample variability? Explain.