In: Statistics and Probability
In a sample of 70 randomly selected students, 29 favored the amount being budgeted for next year's intramural and interscholastic sports. Construct a 98% confidence interval for the proportion of all students who support the proposed budget amount. (Give your answers correct to three decimal places.)
Lower Limit | |
Upper Limit |
Solution :
Given that,
n = 70
x = 29
Point estimate = sample proportion = = x / n = 29/70=0.414
1 - = 1-0.414=0.586
At 98% confidence level the z is ,
= 1 - 98% = 1 - 0.98 = 0.02
/ 2 = 0.02/ 2 = 0.01
Z/2 = Z0.01 = 2.326 ( Using z table )
Margin of error = E = Z / 2 * (( * (1 - )) / n)
= 2.326 (((0.414*0.586) / 70)
= 0.137
A 98% confidence interval is ,
- E < p < + E
0.414-0.137 < p < 0.414+0.137
0.277 < p < 0.551
Lower Limit 0.277 | |
Upper Limit 0.551 |