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Mathematics, 18.11.2020 17:10 bbrid8590
Better Business Bureau conducted survey of 3,765 randomly selected residents of Laradise and found that 60% of them feel the businesses in Laradise, are run by compliant individuals. Find the best point estimate of the proportion of all residents of Laradise who believe businesses are run by compliant individuals.
a. In the prompt above what population parameter are you being asked about?
i. Proportion
ii. Mean
iii. Standard Deviation/Variance
iv. None of the above
b. What is the best point estimate?
c. What is the critical value (zα/2) or (tα/2) that corresponds to a confidence level of 99%?
d. Find the margin of error E, show the formula, fill in the pieces.
e. Construct the 99% confidence interval.
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