Question

In: Math

In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In...

In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds.

  1. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context of the question.
  2. Do you think opinions about the value of gold as a long-term investment have really changed from the old 34% favorability rate, or do you think this is just sample variability? Explain.
  3. Suppose we want to increase the margin of error to 3%, what is the necessary sample size?
  4. Based on the sample size obtained in part c, suppose 120 respondents chose gold as the best long-term investment. Compute the standard error for choosing gold as the best long-term investment. Compute and describe a 95% confidence interval in the context of the question.
  5. Based on the results of part d, do you think opinions about the value of gold as a long-term investment have really changed from the old 34% favorability rate, or do you think this is just sample variability? Explain.

Solutions

Expert Solution

milcah answered 8 months ago
Next > < Previous

Related Solutions

In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. In April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context of the...
When the gallup organization polled investors, 34% rated gold the best long-term investment.... Question: In 2011,...
When the gallup organization polled investors, 34% rated gold the best long-term investment.... Question: In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investm... In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. However,...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. However, in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. • Compute and describe a 95% confidence interval in the context of the case.
In 2011, when the Gallup organization polled investors, 31% rated gold the best long-term investment. But...
In 2011, when the Gallup organization polled investors, 31% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 238 of the 950 respondents chose gold as the best long-term investment. By contrast, only 92 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context...
n 2011, when the Gallup organization polled investors, 26% rated gold the best long-term investment. But...
n 2011, when the Gallup organization polled investors, 26% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 189 of the 760 respondents chose gold as the best long-term investment. By contrast, only 87 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 90% confidence interval in the context...
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults.
In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. By contrast, only 91 chose bonds. a. Compute the standard error for each sample proportion. Compute and describe a 95% confidence interval in the context...
In 2011, when the Gallup organization polled a random sample of investors, 34% rated gold the...
In 2011, when the Gallup organization polled a random sample of investors, 34% rated gold the best long-term investment. However, in April of 2013 Gallup surveyed another random sample of investors. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment. • Compute the standard error of the sample proportion. • Compute and describe a 95% confidence interval in the context of the...
Pew Research polled adults in 2018 and 10% of them rated sailboats as the best boat...
Pew Research polled adults in 2018 and 10% of them rated sailboats as the best boat to own. In 2019, Pew Research surveyed a random sample of US adults. Respondents were asked to select the best type of boat from a list of possibilities. Only 48 of the 800 respondents chose the sailboat as the best boat. • Compute the margin of error of the sample proportion.
Since1935,the Gallup organization–best known for the GallupPoll–has been a leader in the measurement and analysis of...
Since1935,the Gallup organization–best known for the GallupPoll–has been a leader in the measurement and analysis of people’s attitudes, opinions, and behavior. In a September 2003 survey, 1,200 registered voters were interviewed and asked: “California is facing a record 38-billion deficit. Do you think California should or should not raise sales taxes to reduce the state budget deficit?” Among those polled, 498 indicated they were in favor of raising sales taxes. *show work* A) Compute a 99% confidence interval for the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT