Greece has faced a severe economic crisis since the end of 2009. A Gallup poll surveyed 1,000 randomly sampled Greeks in 2011 and found that 25% of them said they would rate their lives poorly enough to be considered suffering. a) Describe the population parameter of interest. What is the value of the point estimate of this parameter? O Proportion of Greeks suffering; 0.25 O Proportion of Greeks that would rate their lives poorly enough to be considered suffering; 0.25 Proportion of Greeks facing a severe economic crisis; 0.25 O Number of Greeks that would rate their lives poorly enough to be considered suffering; 250 b) Check if the conditions required for constructing a confidence interval based on these data are met. We have independence and the sample size is at least 30. The number of successes and failures are at least 10. We have independence. O We have independence and the number of successes and failures are at least 10. c) Construct a 95% confidence interval for the proportion of Greeks who are suffering. Round your answers to 4 decimal places. Lower bound: Upper bound:

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### Analyzing Confidence Intervals with Greek Economic Data

**Context:**
Greece has faced a severe economic crisis since the end of 2009. A Gallup poll surveyed 1,000 randomly sampled Greeks in 2011 and found that 25% of them said they would rate their lives poorly enough to be considered suffering.

**a) Population Parameter of Interest:**

*What is the value of the point estimate of this parameter?*

- ○ Proportion of Greeks suffering; 0.25
- ● Proportion of Greeks that would rate their lives poorly enough to be considered suffering; 0.25
- ○ Proportion of Greeks facing a severe economic crisis; 0.25
- ○ Number of Greeks that would rate their lives poorly enough to be considered suffering; 250

**b) Conditions for Constructing a Confidence Interval:**

*Check if the conditions required for constructing a confidence interval based on these data are met.*

- ○ We have independence and the sample size is at least 30.
- ○ The number of successes and failures are at least 10.
- ○ We have independence.
- ● We have independence and the number of successes and failures are at least 10.

**c) Constructing a 95% Confidence Interval:**

*Construct a 95% confidence interval for the proportion of Greeks who are suffering. Round your answers to 4 decimal places.*

- Lower bound: [ ]
- Upper bound: [ ]

**Explanation of Graphs/Diagrams:**

There are no graphs or diagrams included in this particular section of the text. Any visual aids would typically illustrate the confidence interval calculation process, such as a normal distribution curve depicting the mean and the bounds of the interval. However, these were not present in this excerpt. 

This exercise provides a basis for understanding how confidence intervals can inform us about the broader population trends based on sample data, specifically in the context of socio-economic impacts in Greece.
Transcribed Image Text:### Analyzing Confidence Intervals with Greek Economic Data **Context:** Greece has faced a severe economic crisis since the end of 2009. A Gallup poll surveyed 1,000 randomly sampled Greeks in 2011 and found that 25% of them said they would rate their lives poorly enough to be considered suffering. **a) Population Parameter of Interest:** *What is the value of the point estimate of this parameter?* - ○ Proportion of Greeks suffering; 0.25 - ● Proportion of Greeks that would rate their lives poorly enough to be considered suffering; 0.25 - ○ Proportion of Greeks facing a severe economic crisis; 0.25 - ○ Number of Greeks that would rate their lives poorly enough to be considered suffering; 250 **b) Conditions for Constructing a Confidence Interval:** *Check if the conditions required for constructing a confidence interval based on these data are met.* - ○ We have independence and the sample size is at least 30. - ○ The number of successes and failures are at least 10. - ○ We have independence. - ● We have independence and the number of successes and failures are at least 10. **c) Constructing a 95% Confidence Interval:** *Construct a 95% confidence interval for the proportion of Greeks who are suffering. Round your answers to 4 decimal places.* - Lower bound: [ ] - Upper bound: [ ] **Explanation of Graphs/Diagrams:** There are no graphs or diagrams included in this particular section of the text. Any visual aids would typically illustrate the confidence interval calculation process, such as a normal distribution curve depicting the mean and the bounds of the interval. However, these were not present in this excerpt. This exercise provides a basis for understanding how confidence intervals can inform us about the broader population trends based on sample data, specifically in the context of socio-economic impacts in Greece.
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