Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2010, a survey of 400 homes in a region found that 200 had overestimated market values. Suppose you want to estimate * , the

image text in transcribed
In 2010, a survey of 400 homes in a region found that 200 had overestimated market values. Suppose you want to estimate "*" , the population proportion of homes in this region with market values that are overestimated. a. Find p, the point estimate of it. b. Describe the distribution used to find the critical value. c. Find a 90% confidence interval for n d. Give a practical interpretation of the confidence interval from part c. e. Suppose a researcher claims that * = 0.42. Is the claim believable? Explain. a. The point estimate is 1.645 . (Type an integer or a decimal.) b. We use the t-distribution to find the critical value for the confidence interval of a proportion. O True O False c. The 90% confidence interval is ( 0.4589 0.5411 ) (Round to two decimal places as needed.) d. Interpret the confidence interval. One can be 90 % confident that the interval contains the true value of the population proportion e. Is the claim that x = 0.42 believable? O A. No. This proportion is beyond three standard deviations of the sample mean. O B. No. This proportion is below the lower limit of the confidence interval. O C. Yes. This proportion is within the limits of the confidence interval. O D. Yes. This proportion is within three standard deviations of the sample mean

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

Introductory Algebra

Authors: Alan S Tussy, Rosemary Karr, Marilyn Massey, Diane Koenig, R David Gustafson

5th Edition

1305161866, 9781305161863

More Books

Students also viewed these Mathematics questions

Question

Make an argument opposed to the parents negligent design case.

Answered: 1 week ago