Question
In: Statistics and Probability
According to statistics reported on CNBC, a surprising number of motor vehicles are not covered by insurance (CNBC, February 23, 2006)
According to statistics reported on CNBC, a surprising number of motor vehicles are not covered by insurance (CNBC, February 23, 2006). Sample results, consistent with the 6 of 200 vehicles were not covered by insurance.
a. What is the point estimate of the proportion of vehicles not covered by insurance?
b. Develop a 95% confidence interval for the population proportion.
Solutions
Expert Solution
a)
Point estimate = 46/200 = 0..23
b)
z value at 95% = 1.96
CI = p +/- z * sqrt(p*(1-p)/n)
= 0.23 +/- 1.96 * sqrt(0.23 * (1-0.23)/200)
= (0.1717 , 0.2883)
The 95% Ci is (0.1717 , 0.2883)
orchestra answered 2 years agoRelated Solutions
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to
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