The First National Bank of Wilson has 680 checking account customers. A recent s

Question

The First National Bank of Wilson has 680 checking account customers. A recent sample of 70 of these customers showed 24 have a Visa card with the bank.

Construct the 95% confidence interval for the proportion of checking account customers who have a Visa card with the bank. (Use z Distribution Table.) (Round your answers to 3 decimal places.)

Confidence interval for the proportion is between  and .

The First National Bank of Wilson has 680 checking account customers. A recent sample of 70 of these customers showed 24 have a Visa card with the bank.

Explanation / Answer

Sample proportion p = 24/70

n = 680 z = 1.96

Let the interval be (a,b).

a = 24/70 - 1.96 * ((24/70 * 46/70)/680) = 0.3072.

b = 24/70 + 1.96 * ((24/70 * 46/70)/680) = 0.3785.

The confidence interval is between 0.3072 and 0.3785.

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