A study that randomly surveyed 3.500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete parts a through c below. Click the icon to view the survey results. Click the icon to view a table of critical values for commonly used confidence levels a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an IRA account with a rollover from an employer-sponsored retirement plan? The best point estimate for the proportion is (Type an integer or a decimal) b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA account with a rollover from an employer-sponsored retirement plan ♫ (Round to three decimal places as needed. Use ascending order)
A study that randomly surveyed 3.500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete parts a through c below. Click the icon to view the survey results. Click the icon to view a table of critical values for commonly used confidence levels a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an IRA account with a rollover from an employer-sponsored retirement plan? The best point estimate for the proportion is (Type an integer or a decimal) b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA account with a rollover from an employer-sponsored retirement plan ♫ (Round to three decimal places as needed. Use ascending order)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 7PPS
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![A study that randomly surveyed 3,500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored
retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had
ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete
parts a through c below.
Click the icon to view the survey results.
Click the icon to view a table of critical values for commonly used confidence levels.
a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an
IRA account with a rollover from an employer-sponsored retirement plan?
The best point estimate for the proportion is
(Type an integer or a decimal)
b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA
account with a rollover from an employer-sponsored retirement plan
10
(Round to three decimal places as needed. Use ascending order)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fec68cdf8-5efa-41c7-ba63-8a6e6aee927d%2F5dc01ed6-a7ad-4fd7-bf30-f8684228bd99%2Frru7x3m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A study that randomly surveyed 3,500 households found that 37% of households have funded at least one IRA rollover from an employer-sponsored
retirement plan. Suppose a recent random sample of 50 households in a metropolitan area was taken and respondents were asked whether they had
ever funded an IRA account with a rollover from an employer-sponsored retirement plan. The results are available in the accompanying table Complete
parts a through c below.
Click the icon to view the survey results.
Click the icon to view a table of critical values for commonly used confidence levels.
a. Based on the random sample, what is the best point estimate for the proportion of all households in the metropolitan area that have ever funded an
IRA account with a rollover from an employer-sponsored retirement plan?
The best point estimate for the proportion is
(Type an integer or a decimal)
b. Construct a 99% confidence interval estimate for the true population proportion of households in the metropolitan area that had ever funded an IRA
account with a rollover from an employer-sponsored retirement plan
10
(Round to three decimal places as needed. Use ascending order)
![Respondent Response
1 No
2 No
3 No
4 No
5 Yes
6 No
7 Yes
8 Yes
9 Yes
10 Yes
11 Yes
12 No
13 Yes
14 No
15 No
16 Yes
17 Yes
18 Yes
19 Yes
20 No
21 Yes
22 No
23 No
24 Yes
25 No
26 Yes
27 Yes
28 No
29 Yes
30 No
31 No
32 No
33 No
34 Yes
35 No
36 No
37 No
38 Yes
39 No
40 No
41 No
42 Yes
43 Yes
44 No
45 No
46 Yes
47 Yes
48 No
49 No
50 No](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fec68cdf8-5efa-41c7-ba63-8a6e6aee927d%2F5dc01ed6-a7ad-4fd7-bf30-f8684228bd99%2Fdr3zjqw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Respondent Response
1 No
2 No
3 No
4 No
5 Yes
6 No
7 Yes
8 Yes
9 Yes
10 Yes
11 Yes
12 No
13 Yes
14 No
15 No
16 Yes
17 Yes
18 Yes
19 Yes
20 No
21 Yes
22 No
23 No
24 Yes
25 No
26 Yes
27 Yes
28 No
29 Yes
30 No
31 No
32 No
33 No
34 Yes
35 No
36 No
37 No
38 Yes
39 No
40 No
41 No
42 Yes
43 Yes
44 No
45 No
46 Yes
47 Yes
48 No
49 No
50 No
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