Use the sample data and confidence level given below to complete parts (a) throu

Question

Use the sample data and confidence level given below to complete parts (a) through (d). A research institute poll asked respondents if they felt vulnerable to identity theft. In the poll, n = 987 and x = 504 who said "yes." Use a 99% confidence level. a) Find the best point estimate of the population proportion p. 0.511 (Round to three decimal places as needed.) b) Identify the value of the margin of error E. E = 0.0410 (Round to four decimal places as needed.) c) Construct the confidence interval. 0.470

Explanation / Answer

pcap = 504/987 = .5106

a) Best point estimate = .511

b) Margin of error = 2.58*sqrt(.511*.489/987) = .04105

c) The Confidence interval is .511+/- .04105 = .46995 to .55205

d) The right interpreation is C.
So, we don't talk of chances, we talk of confidence. and we say that the true value of population proportion lies between the upper and lower bounds.

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