What are the answers to these questions?

Question

A recent poll randomly selects 200 registered voters residing in Nassau County. For this sample, 180 respondents stated that they support the federal government forgiving up to $50,000 in student loans for people making less than $250,000 a year.

a) What is the population and parameter that is being discussed? (2pts)

b) For this parameter identify the point estimate. (1pts)

c) Determine the estimate of the standard error. (2pts)

d) Construct a 95% Confidence Interval for the population parameter. (4pts)

e) Calculatethemarginoferror.(3pts)

f) Interpret the meaning of the 95% Confidence Interval for the population parameter. Use the parameters discussed in the problem. (4pts)

Answer 1

a) What is the population and parameter that is being discussed? (2pts)

Voters in Nassau county - proportion supporting forgiving of student loans

b) For this parameter identify the point estimate. (1pts)

phat = 180/200 = 0.9

c) Determine the estimate of the standard error. (2pts)

SE = sqrt(0.9*0.1/200)

d) Construct a 95% Confidence Interval for the population parameter. (4pts)

phat +/- z-critical * SE, where z-critical = 1.96

e) Calculatethemarginoferror.(3pts)

ME = z-critical * SE

f) Interpret the meaning of the 95% Confidence Interval for the population parameter. Use the parameters discussed in the problem. (4pts)

95% probability that the set of plausible values for the population parameter lies within the confidence interval limits