QM 2241 LIND 16 Smith: S |BUSINESS STATISTICS C09 Question 10 (of 11) 10. 1000 p

Question

QM 2241 LIND 16 Smith: S |BUSINESS STATISTICS C09 Question 10 (of 11) 10. 1000 points The First National Bank of Wilson has 700 checking account customers A recent sample of 50 of these customers showed 26 have a Visa card with the bank Construct the 98% confidence interval for the proportion of checking account customers who have a Visa card with the bank (Use z Distribution Table ) (Round your answers to 3 decimal places.) Confidence interval for the proportion is between and References eBook & Resources Worksheet Difficulty: 2 Intermediate Leaming Ob Check my work O Type here to search

Explanation / Answer

Ans:

Sample proportion=26/50=0.52

critical z value=2.326

98% confidence interval for p

=0.52+/-2.326*sqrt(0.52*(1-0.52)/50)

=0.52+/-0.164

=(0.356, 0.684)

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