In a random sample of 765 adults in the United States, 322 say they could not cover a $400 unexpected expense without borrowing money or going into debt. (a) What is the population under consideration in the data set? (b) What parameter is being estimated? (c) What is the point estimate for the parameter? (d)Someone claims that 50% of US adults can cover a $400 unexpected expense without borrowing money or going into debt. Use this to construct the sampling distribution of sample proportions who can cover the expense. Be sure to check the appropriate conditions and include the shape, center, spread, and a well-labeled sketch of the sampling distribution. (e) If the claim in Part (D) is true, is the point estimate you obtained in Part (C) surprising? Why or why not?
In a random sample of 765 adults in the United States, 322 say they could not cover a $400 unexpected expense without borrowing money or going into debt. (a) What is the population under consideration in the data set? (b) What parameter is being estimated? (c) What is the point estimate for the parameter? (d)Someone claims that 50% of US adults can cover a $400 unexpected expense without borrowing money or going into debt. Use this to construct the sampling distribution of sample proportions who can cover the expense. Be sure to check the appropriate conditions and include the shape, center, spread, and a well-labeled sketch of the sampling distribution. (e) If the claim in Part (D) is true, is the point estimate you obtained in Part (C) surprising? Why or why not?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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In a random sample of 765 adults in the United States, 322 say they could not cover a $400 unexpected expense without borrowing money or going into debt.
(a) What is the population under consideration in the data set?
(b) What parameter is being estimated?
(c) What is the point estimate for
the parameter?
(d)Someone claims that 50% of US adults can cover a $400 unexpected expense without borrowing money or going into debt. Use this to construct the sampling distribution of sample proportions who can cover the expense. Be sure to check the appropriate conditions and include the shape, center, spread, and a well-labeled sketch of the sampling distribution.
(e) If the claim in Part (D) is true, is the point estimate you obtained in Part (C) surprising? Why or why not?
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