The First National Bank of Wilson has 760 checking account customers. A recent s

Question

The First National Bank of Wilson has 760 checking account customers. A recent sample of 60 of these customers showed 32 have a Visa card with the bank.

Construct the 98% 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 760 checking account customers. A recent sample of 60 of these customers showed 32 have a Visa card with the bank.

Explanation / Answer

p^ = 32/60 n = 760

z for 98% = 2.33

Let the interval be (a,b).

a = 32/60 - 2.33 * ((32/60 * 28/60) / 60) = 0.383.

b = 32/60 + 2.33 * ((32/60 * 28/60) / 60) = 0.683.

The confidence interval is (0.383,0.683).

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