If the probability is 0.54 that Stock A will increase in value during the next month and the probability is 0.68 that Stock B wi
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Answer:
a) The percentage of households in the town with three or more largescreen TVs is estimated as :
The best estimation for the population proportion is :
And that represent the 1.4%.
b) And the 95% confidence interval would be given (0.00370;0.0243).
And the % would be between 0.37% and 2.43%.
Step-by-step explanation:
Data given and notation
n=500 represent the random sample taken
X=7 represent the households with three or more large-screen TVs
estimated proportion of households with three or more large-screen TVs
represent the significance level (no given, but is assumed)
z would represent the statistic (variable of interest)
p= population proportion of households with three or more large-screen TVs
Part a
The percentage of households in the town with three or more largescreen TVs is estimated as :
The best estimation for the population proportion is :
And that represent the 1.4%.
Part b
Yes is possible. We hav that and
so we have the assumption of normality to find the interval.
The confidence interval would be given by this formula
For the 95% confidence interval the value of and
, with that value we can find the quantile required for the interval in the normal standard distribution.
And replacing into the confidence interval formula we got:
And the 95% confidence interval would be given (0.00370;0.0243).
And the % would be between 0.37% and 2.43%.
Answer: 2185
Step-by-step explanation:
Let p be the proportion of visitors are campers.
Given : The Tennessee Tourism Institute (TTI) plans to sample information center visitors entering the state to learn the fraction of visitors who plan to camp in the state.
The prior proportion of visitors are campers : p=0.35
Allowable error : E= 2%= 0.02
We know that the z-value for 95% confidence =
Then by Central Limit Theorem , the required sample size would be :
Simply , we get
[Rounded to the next whole number.]
Hence, the smallest sample size to estimate the population proportion of campers =2185