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A random sample of 500 households in the Brisbane suburb showed that 300 of them owned at least one car. Establish a 90% confidence interval
A random sample of 500 households in the Brisbane suburb showed that 300 of them owned at least one car. Establish a 90% confidence interval for the true proportion of households in this suburb who own a car by using the following template to answer this question. i.What is the parameter of interest? ii.What is the point estimator? iii. What is the associated sampling distribution (how do you know this?). iv.Specify the formula for the 90% confidence interval estimator for the parameter v. Perform the necessary calculations and write down the lower and upper limits of the 90% confidence interval vi. Interpret the calculated confidence interval
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