Question

A report on consumer financial literacy summarized data from a representative sample of 1,668 adult Americans. Based on data from this sample, it was reported that over half of U.S. adults would give themselves a grade of A or B on their knowledge of personal finance. This statement was based on observing that 935 people in the sample would have given themselves a grade of A or B.

(a) Construct and interpret a 95% confidence interval for the proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance. (Use a table or technology. Round your answers to three decimal places.) ,

Answer 1

Refer Standard normal table/Z-table or use excel function "=NORM.S.INV((1-0.025))" to find the Z-value.

Round to three decimal places.

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Because this confidence interval , the interval consistent with the statement that a majority of adult Americans would give themselves a grade of A or B.