In: Statistics and Probability
Solution :
Given that,
n = 3400
Point estimate = sample proportion = = 23% = 0.23
1 - = 1 - 0.23 = 0.77
At 98% confidence level the z is ,
= 1 - 98% = 1 - 0.98 = 0.02
/ 2 = 0.02 / 2 = 0.01
Z/2 = Z 0.01 = 2.326
Margin of error = E = Z / 2 * (( * (1 - )) / n)
= 2.326 * (((0.23 * 0.77) / 3400)
= 0.017
A 98% confidence interval for population proportion p is ,
- E < p < + E
0.23 - 0.017 < p < 0.23 + 0.017
0.213 < p < 0.247
The 98% confidence interval for the population proportion p is : (0.213 , 0.247)