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