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In: Statistics and Probability

A bank randomly selected 249 checking account customers and found that 113 of them also had...

A bank randomly selected 249 checking account customers and found that 113 of them also had savings accounts at this same bank. Construct a 95% confidence interval for the true proportion of checking account customers who also have savings accounts. (Round your answers to three decimal places.)

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Expert Solution

We have given,              
              
x=113          
n=249          
Estimate for sample proportion=0.4538  
Level of significance is =1-0.95=0.05      
Z critical value(using Z table)=1.96      
              
Confidence interval formula is              


=(0.392,0.516)
              
Lower limit for confidence interval=0.392  
              
Upper limit for confidence interval=0.516  

orchestra answered 2 years ago
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