A random sample of 150 companies found that 75 of them use social-media tools and technologies....

A random sample of 150 companies found that 75 of them use social-media tools and technologies. Determine the LOWER confidence limit (LCL) for an 80% confidence interval for the population proportion.

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Expert Solution

Solution :

Given that,

Point estimate = sample proportion = = x / n = 75 / 150 = 0.500

1 - = 1 - 0.500 = 0.5

Z = 0.842

Margin of error = E = Z * $\sqrt$ (( * (1 - )) / n)

= 0.842 * ( $\sqrt$ ((0.500 * 0.5) /150 )

Margin of error = E = 0.034

A 80% lower confidence interval for population proportion p is ,

- E

0.500 - 0.034

0.466

Lower confidence limit: 0.466

orchestra answered 1 year ago

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