Question
In: Statistics and Probability
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 of the question.
b. Do you think opinions about the value of gold as a long-term investment have really changed from the old 26% favorability rate, or do you think this is just sample variability? Explain.
c. Suppose we want to keep the margin of error at 3%, and we still want to construct a 90% confidence interval. What is the necessary sample size?
d. Based on the sample size obtained in part c, suppose 167 respondents chose gold as the best long-term investment. Compute the standard error for choosing gold as the best long-term investment. Compute and describe a 90% confidence interval in the context of the question.
e. Based on the results of part d, do you think opinions about the value of gold as a long-term investment have really changed from the old 26% favorability rate, or do you think this is just sample variability? Explain.
Solutions
orchestra answered 1 year agoRelated 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, 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...
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 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...
Steps a long-term care organization should go about when selecting an information system
Steps a long-term care organization should go about when
selecting an information system
1.When would the equity method be used to account for a long-term investment in stocks? (Be...
1.When would the equity method be used
to account for a long-term investment in stocks? (Be specific with
respect to the percentage ownership.)
2 Consider your answer to the previous
question. Why wouldn’t mark-to-market accounting be appropriate for
such an investment? (Be specific.)
3 Reference the
preceding questions. Why would the equity method never be
appropriate for short-term investments in stocks? (Be
specific.)
4 Briefly describe how an investment’s
carrying value is determined if the equity method is being
used.
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