Question
Turn this calculation into a 90% CI The article that I decided to use for this discussion board held a survey to understand how many
Turn this calculation into a 90% CI
The article that I decided to use for this discussion board held a survey to understand how many citizens have the funds for a surprise $1,000 bill. This article can be found through this link Survey: Only 44% in U.S. have enough in savings to cover a surprise $1,000 bill | Lifestyle | nny360.com(Links to an external site.)
Data found: A survey of 1,004 United States citizens found that only 44% of them have enough savings for a $1,000 bill. This was interesting to me due to the random car problems or unexpected health care bills that I have encountered in this lifetime.
This means that n = 1004, and my point estimate of population proportion would be 0.44. This means that my q-hat is 1 - 0.44 = 0.56
I decided to also use a 95% CI which provides me with a critical value of 1.96
After finding my numbers I created the equation 1.96 x sqrt [(0.44)(0.56)]/(1,004) = 1.96(0.01567) = 0.031
This means that with a 95% CI for the true population proportion we would get (0.44-0.031) < p < (0.44+0.031) which gives us (0.409, 0.471)
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