3. A random sample of 200 attorneys shows that there are 36 of them who make at least $400,000 a уear. a) Can we conclude at the 1% significance level that the true proportion of attorneys in the population who make at least $400,000 a year is less than 0.24? What is the p value for your calculation? b) Estimate the true proportion of attorneys in the population who make at least $400,000 a year with a confidence level of 95%.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Please solve parts b and c 

3. A random sample of 200 attorneys shows that there are 36 of them who make at least $400,000 a
year.
a) Can we conclude at the 1% significance level that the true proportion of attorneys in the population
who make at least S400,000 a year is less than 0.24? What is the p value for your calculation?
b) Estimate the true proportion of attorneys in the population who make at least $400,000 a year
with a confidence level of 95%.
Transcribed Image Text:3. A random sample of 200 attorneys shows that there are 36 of them who make at least $400,000 a year. a) Can we conclude at the 1% significance level that the true proportion of attorneys in the population who make at least S400,000 a year is less than 0.24? What is the p value for your calculation? b) Estimate the true proportion of attorneys in the population who make at least $400,000 a year with a confidence level of 95%.
c) Estimate the true proportion of attorneys in the population who make at least $400,000 a year
if you select a random sample of 20 attorneys and 4 of them make at least $400,000 a year.
Compare this estimate with the previous one.
Transcribed Image Text:c) Estimate the true proportion of attorneys in the population who make at least $400,000 a year if you select a random sample of 20 attorneys and 4 of them make at least $400,000 a year. Compare this estimate with the previous one.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Knowledge Booster
Linear Equations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman