A survey at a certain university found that 21 out of a random sample of 350 students had over $6,000 in credit card debt a)Verify that the sample is large enough to use the normal distribution to find a confidence interval for the proportion of all students at the university who had over $6,000 in credit card debt. b)Construct a 90% confidence interval for the proportion of all students at the university who had over $6,000 in credit card debt. (Round your answer to two decimal places) c) Interpret of your interval in the context of the situation d)If we would like the margin of error to be within 0.01, how large should the sample size be? ( Use P=0.5 for a conservative estimate.)
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
1) A survey at a certain university found that 21 out of a random sample of 350 students had over $6,000 in credit card debt
a)Verify that the sample is large enough to use the
b)Construct a 90% confidence interval for the proportion of all students at the university who had over $6,000 in credit card debt. (Round your answer to two decimal places)
c) Interpret of your interval in the context of the situation
d)If we would like the margin of error to be within 0.01, how large should the sample size be? ( Use P=0.5 for a conservative estimate.)
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