10.00 points Exercise 8-47 Algo An economist reports that 841 out of a sample of

Question

10.00 points Exercise 8-47 Algo An economist reports that 841 out of a sample of 2,900 middle-income American households actively participate in the stock market.Use Table 1 a. Construct the 90% confidence interval for the proportion of middle-income Americans who actively participate in the stock market. (Round intermediate calculations to 4 decimal places. Round "z- value" and final answers to 3 decimal places.) Confidence interval to b. Can we conclude that the proportion of middle-income Americans who actively participate in the stock market is not 32%? Yes, since the confidence interval contains the value 0.32 Yes, since the confidence interval does not contain the value 0.32. No, since the confidence interval contains the value 0.32. No, since the confidence interval does not contain the value 0.32. References eBook &Resources; MacBook 80 F2 2 3 4 5 6

Explanation / Answer

a)

90% CI =0.276 ; 0.304

b)

Yes ; since the confidence interval does not contain the value 0.32.

                                                                                           x                    =   841 sample size n                    = 2900 sample proportion     p x/n= 0.2900 std error       =Se            =(p*(1-p)/n) = 0.0084 for 90 % CI value of z= 1.6449 margin of error E=z*std error                            = 0.0139 lower confidence bound=sample proportion-margin of error 0.276 Upper confidence bound=sample proportion+margin of error 0.304

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