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A study that randomly surveyed 3.500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete parts a through c below. Click the icon to view the survey results. Click the icon to view a table of critical values for commonly used confidence levels a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an IRA account with a rollover from an employer-sponsored retirement plan? The best point estimate for the proportion is (Type an integer or a decimal) b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA account with a rollover from an employer-sponsored retirement plan ♫ (Round to three decimal places as needed. Use ascending order)

A study that randomly surveyed 3.500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete parts a through c below. Click the icon to view the survey results. Click the icon to view a table of critical values for commonly used confidence levels a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an IRA account with a rollover from an employer-sponsored retirement plan? The best point estimate for the proportion is (Type an integer or a decimal) b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA account with a rollover from an employer-sponsored retirement plan ♫ (Round to three decimal places as needed. Use ascending order)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
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A study that randomly surveyed 3,500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete parts a through c below. Click the icon to view the survey results. Click the icon to view a table of critical values for commonly used confidence levels. a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an IRA account with a rollover from an employer-sponsored retirement plan? The best point estimate for the proportion is (Type an integer or a decimal) b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA account with a rollover from an employer-sponsored retirement plan 10 (Round to three decimal places as needed. Use ascending order)
Transcribed Image Text:A study that randomly surveyed 3,500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete parts a through c below. Click the icon to view the survey results. Click the icon to view a table of critical values for commonly used confidence levels. a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an IRA account with a rollover from an employer-sponsored retirement plan? The best point estimate for the proportion is (Type an integer or a decimal) b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA account with a rollover from an employer-sponsored retirement plan 10 (Round to three decimal places as needed. Use ascending order)
Respondent Response 1 No 2 No 3 No 4 No 5 Yes 6 No 7 Yes 8 Yes 9 Yes 10 Yes 11 Yes 12 No 13 Yes 14 No 15 No 16 Yes 17 Yes 18 Yes 19 Yes 20 No 21 Yes 22 No 23 No 24 Yes 25 No 26 Yes 27 Yes 28 No 29 Yes 30 No 31 No 32 No 33 No 34 Yes 35 No 36 No 37 No 38 Yes 39 No 40 No 41 No 42 Yes 43 Yes 44 No 45 No 46 Yes 47 Yes 48 No 49 No 50 No
Transcribed Image Text:Respondent Response 1 No 2 No 3 No 4 No 5 Yes 6 No 7 Yes 8 Yes 9 Yes 10 Yes 11 Yes 12 No 13 Yes 14 No 15 No 16 Yes 17 Yes 18 Yes 19 Yes 20 No 21 Yes 22 No 23 No 24 Yes 25 No 26 Yes 27 Yes 28 No 29 Yes 30 No 31 No 32 No 33 No 34 Yes 35 No 36 No 37 No 38 Yes 39 No 40 No 41 No 42 Yes 43 Yes 44 No 45 No 46 Yes 47 Yes 48 No 49 No 50 No
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