Question

In: Statistics and Probability

Independent random samples were taken of male and female members of University Entrepreneurship Club. These members...

Independent random samples were taken of male and female members of University Entrepreneurship Club. These members were considering starting a business. Of 500 members, 150 actually started a business venture.

  1. Estimate the value of the population proportion. (Round your answers to 3 decimal places.)
  2. Develop a 99% confidence interval for the population proportion.

Solutions

Expert Solution

Solution:

Given

n= 500 sample size

X= 150

sample proportion of business venture

level of significance

a) Sample proportion is an unbiased estimator of population proportion that is

The point estimate of the population proportion is 0.300

p= 0.300

b) The 99% confidence interval for the population proportion is

At

  from Z table

( 0.3- 0.0528742, 0.3 + 0.0528742)

( 0.2471258, 0.3528742)

( 0.247, 0.353)

The 99% confidence interval for population proportion is

( 0.247, 0.353)

orchestra answered 1 year ago
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