construct a 95% confidence interval for the true proportion of the population having banking relations with either the nationalised banks or the private sector banking
construct a 95% confidence interval for the true proportion of the population having banking relations with either the nationalised banks or the private sector banking
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 58E: What is meant by the sample space of an experiment?
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Question
Transcribed Image Text:Sampling and Estimations
In a survey of banking habits of the population,
1000 persons were interviewed. Of these the
480 had
an account with nationalised banks only, 320
had an account with private sector bank only
and
remaining did not have any account in any of
the banks.
Assuming that this is a random sample,
construct a 95% confidence interval for the true
proportion of
the population having banking relations with
either the nationalised banks or the private
sector banking
Also assume that the events of having
accounts with nationalised bank and private
sector bank are
mutually exclusive.
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