According to Thomson Financial, last year the majority of companies reporting profits had beaten estimates. A sample of 162 companies showed that 94 beat estimates, 29 matched estimates, and 39 fell short.   (a) What is the point estimate of the proportion that fell short of estimates? If required, round your answer to four decimal places.   pshort =  (b) Determine the margin of error and provide a 95% confidence interval for the proportion that beat estimates. If required, round your answers to four decimal places.   ME =    Confidence interval:   to  (c) How large a sample is needed if the desired margin of error is 0.05? If required, round your answer to the next integer.   n* =

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Q: construct a 95% confidence interval for the true population proportion of people with kids.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.