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The Consumer Reports National Research Center conducted a telephone survey of 2000 adults to learn about the major economic concerns for the future ( Consumer Reports , January 2009). The survey results showed that 1760 of the respondents think the future health of Social Security is a major economic concern. a. What is the point estimate of the population proportion of adults who think the future 1. health of Social Security is a major economic concern. b. At 90% confidence, what is the margin of error? c. Develop a 90% confidence interval for the population proportion of adults who think 2. the future health of Social Security is a major economic concern. d. Develop a 95% confidence interval for this population proportion.

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STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

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Chapter
Section
BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
Chapter 8.4, Problem 35E
Textbook Problem
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The Consumer Reports National Research Center conducted a telephone survey of 2000

adults to learn about the major economic concerns for the future (Consumer Reports, January 2009). The survey results showed that 1760 of the respondents think the future health of Social Security is a major economic concern.

  1. a. What is the point estimate of the population proportion of adults who think the future
  2. 1. health of Social Security is a major economic concern.
  3. b. At 90% confidence, what is the margin of error?
  4. c. Develop a 90% confidence interval for the population proportion of adults who think
  5. 2. the future health of Social Security is a major economic concern.
  6. d. Develop a 95% confidence interval for this population proportion.

a.

To determine

Find the point estimate of the proportion of the population of adults think future health of social security is a major economic concern.

Explanation of Solution

Calculation:

The given information is that the research center conducts a telephone survey on the 2,000 adults about learn about the major economic concerns for the future. In the survey, the 1,760 adults’ response is they think the future health of social security is a major economic concern.

The sampling distribution of p¯ is the population proportion p.

The value of p¯ is,

b.

To determine

Find the margin of error at 90% confidence.

c.

To determine

Find the 90% confidence interval for the population proportion for adults think future health of social security is a major economic concern.

d.

To determine

Find the 95% confidence interval for the population proportion.

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Chapter 8 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT
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