Question

In: Statistics and Probability

In 2011, when the Gallup organization polled a random sample of investors, 34% rated gold the...

In 2011, when the Gallup organization polled a random sample of investors, 34% rated gold the best long-term investment. However, in April of 2013 Gallup surveyed another random sample of investors. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. • Compute the standard error of the sample proportion. • Compute and describe a 95% confidence interval in the context of the case. • Do you think opinions about the value of gold as a long-term investment have really changed from the old 34% favorable rate, or do you think this is a sample variability? Explain your answer using the calculated statistics.

Solutions

Expert Solution


Related Solutions

In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context of the...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context of the...
When the gallup organization polled investors, 34% rated gold the best long-term investment.... Question: In 2011,...
When the gallup organization polled investors, 34% rated gold the best long-term investment.... Question: In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investm... In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. However,...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. However, in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. • Compute and describe a 95% confidence interval in the context of the case.
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults.
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context...
In 2011, when the Gallup organization polled investors, 31% rated gold the best long-term investment. But...
In 2011, when the Gallup organization polled investors, 31% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 238 of the 950 respondents chose gold as the best long-term investment. By contrast, only 92 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context...
n 2011, when the Gallup organization polled investors, 26% rated gold the best long-term investment. But...
n 2011, when the Gallup organization polled investors, 26% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 189 of the 760 respondents chose gold as the best long-term investment. By contrast, only 87 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 90% confidence interval in the context...
The Gallup survey company conducted a poll in May 2011. Researchers asked a random sample of...
The Gallup survey company conducted a poll in May 2011. Researchers asked a random sample of about 1000 U.S. adults the following question: “From what you know or have read about raising the debt ceiling, would you want your member of Congress to vote in favor of, that is, for raising the debt ceiling, to vote against raising the debt ceiling, or do you not know enough about this issue to say?” Forty-eight percent of the adults who responded said...
The Gallup survey company conducted a poll in May 2011. Researchers asked a random sample of...
The Gallup survey company conducted a poll in May 2011. Researchers asked a random sample of about 1000 U.S. adults the following question: “From what you know or have read about raising the debt ceiling, would you want your member of Congress to vote in favor of, that is, for raising the debt ceiling, to vote against raising the debt ceiling, or do you not know enough about this issue to say?” Forty-eight percent of the adults who responded said...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT