Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A random sample of 5,805 physicians in Colorado showed that 2,954 provided at least some charity care (i.e., treated poor people at no cost). Let

A random sample of 5,805 physicians in Colorado showed that 2,954 provided at least some charity care (i.e., treated poor people at no cost).

Let p represent the proportion of all Colorado physicians who provide some charity care. Find a point estimate for p. (Round your answer to four decimal places.)

(b)

Find a 99% confidence interval for p. (Enter your answer in the form: lower limit to upper limit. Include the word "to." Round your numerical values to three decimal places.)

Give a brief explanation of the meaning of your answer in the context of this problem.

We are 1% confident that the true proportion of Colorado physicians providing at least some charity care falls within this interval.

We are 1% confident that the true proportion of Colorado physicians providing at least some charity care falls above this interval.

We are 99% confident that the true proportion of Colorado physicians providing at least some charity care falls within this interval.

We are 99% confident that the true proportion of Colorado physicians providing at least some charity care falls outside this interval.

(c)

Is the normal approximation to the binomial justified in this problem? Explain.

No; np > 5 and nq < 5.

No; np < 5 and nq > 5.

Yes; np < 5 and nq < 5.

Yes; np > 5 and nq > 5.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools for business decision making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

6th Edition

978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895

Students also viewed these Mathematics questions