Question

In: Statistics and Probability

You want to estimate the proportion of gas stations in the state that have stopped accepting...

You want to estimate the proportion of gas stations in the state that have stopped accepting cash. You take a simple random sample of 150 stations. Twelve stations in the sample indicate that they have stopped accepting cash.

  1. Build a 95% interval estimate of the overall station proportion based on your sample findings.
  2. Build a 99% interval estimate of the overall station proportion based on your sample findings.

Solutions

Expert Solution

p^ = 12/150 = 0.08

a)

Confidence interval

                               

                               

                                = (0.037 , 0.123)

b)

Confidence interval

                               

                               

                                = (0.023 , 0.137)

orchestra answered 3 years ago
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