A market survey is conducted by your state legislator to determine the proportion of homeowners who would switch to a new "electrical energy supplier" if they had the opportunity afforded them by new state legislation. Of the 1,200 homeowners surveyed, 800 said they would switch.

(a) Calculate the sample proportion.

(b) What is the value of the population proportion?

(c) Develop a 99 percent confidence interval for the population proportion.

(d) Interpret the results in part c.

(e) A legislator states that 2/3 of the homeowners would switch. Is this a reasonable statement? Briefly explain.