A random sample of 80 people was selected, and 22 of the selected people indicated that it would be a good idea to eliminate the penny from circulation. What is the 99 percent confidence interval constructed from the sample proportion

The 99% confidence interval for the population proportion is (0.146, 0.404).

Explanation:

The confidence interval for true proportion is:

Given:

X = number of people who thought it would be a good idea to eliminate the penny from circulation = 22.

n = sample size = 80.

α = 1 - 0.99 = 0.01

The sample proportion is:

The critical value of z for 99% confidence level is:

Compute the 99% confidence interval for the population proportion as follows:

Thus, the 99% confidence interval for the population proportion is (0.146, 0.404).

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