A tele communication company wants to estimate the proportion of households that

Question

A tele communication company wants to estimate the proportion of households that would purchase an additional telephone line if it were made available at a substantially reduced installation cost Data are collected from a random sample of 500 households The results indicate that 115 of the households would purchase the additional telephone line at a reduced installation cost. Complete parts (a) and (b) bellowing Click the icon to view a table of values for the standardized normal distribution Construct a 99% confidence interval estimate for the population proportion of households that would purchase the additional telephone line.

Explanation / Answer

here p=115/500=0.23

hence std error =(p(1-p)/n)1/2=0.0188

for 99% CI, z=2.5758

hence confidence interval=mean +/- z*std error =0.1815 ; 0.2785

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