Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A random sample of size 160 taken from a population yields a proportion equal to 0.36 Complete parts a through d below. Click the icon

A random sample of size 160 taken from a population yields a proportion equal to 0.36 Complete parts a through d below. Click the icon to view a table of critical values for commonly used confidence levels.

a. Determine if the sample size is large enough so that the sampling distribution can be approximated by a normal distribution.

Since np overbar= and n(1p overbar p)= , the sample size (is not) or (is) large enough.

(Round to the nearest whole number asneeded.)

b. Construct a 90% confidence interval for the population proportion.

? ------?

(Round to three decimal places as needed. Use ascendingorder.)

c. Interpret the confidence interval calculated in part b.

Which statement below correctly interprets the confidenceinterval?

A.

There is a 0.90 probability that the population proportion is in the interval.

B.

There is 90% confidence that the population proportion is in the interval.

C.

There is a 0.90 probability that the sample proportion is in the interval.

D.

Of all the possible populationproportions, 90% are in the interval.

d. Produce the margin of error associated with this confidence interval.

e=?

(Round to three decimal places asneeded.)

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

Economics of Money, Banking and Financial Markets

Authors: Frederic S. Mishkin

9th Edition

978-0321607751, 9780321599797, 321607759, 0321599799, 978-0321598905

More Books

Students also viewed these Economics questions

Question

Discuss the Rights issue procedure in detail.

Answered: 1 week ago

Question

Explain the procedure for valuation of shares.

Answered: 1 week ago

Question

Which months of this year 5 Mondays ?

Answered: 1 week ago

Question

Define Leap year?

Answered: 1 week ago