Statistics and Probability

Question

Out of 600 people sampled, 96 had kids.

The best point estimate for p is Incorrect.

The margin of error for a 99% confidence interval is Incorrect.

Give your answers as decimals to 3 places.

Answer 1

The best estimate for p is, p^=x/n=96/600=0.16

The standard error=SQRT(p^*(1-p^)/n)=sqrt (.16*(1-.16)/600)=0.01496

The confidence level is 99%.

Hence, alpha=(1-c) =(1-.99)=0.01

alpha/2= 0.005

Z (alpha/2) from the table is=2.58

The margin of error=Z ( for alpha/2= 0.005)*standard error=2.58*0.01496 = 0.0386

Lower bound=p^-Margin of error=.16-0.0386=0.1214

Upper bound=p^+margin of error=.16+0.0386=0.1986