Lexi of Arm End insurance ,was hired to estimate the proportion of patients that had paid their Bill's on time. She took a random sample of 100 such patients and found that 85 of them had paid their Bill's on time. Help her find 96% confidence interval for population proportion.

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Lexi of Arm End Insurance was hired to estimate the proportion of patients that had paid their bills on time. She took a random sample of 100 such patients and found that 85 of them had paid their bills on time. Help her find a 96% confidence interval for the population proportion.
Transcribed Image Text:Lexi of Arm End Insurance was hired to estimate the proportion of patients that had paid their bills on time. She took a random sample of 100 such patients and found that 85 of them had paid their bills on time. Help her find a 96% confidence interval for the population proportion.
"The margin of error for the population proportion is 4%."

Explanation:
- The text discusses a statistical concept called the "margin of error," which is 4% in this case.
- Margin of error measures the potential difference between a sample statistic and the actual population parameter.
- It's important in research and surveys to understand the precision of the results.
Transcribed Image Text:"The margin of error for the population proportion is 4%." Explanation: - The text discusses a statistical concept called the "margin of error," which is 4% in this case. - Margin of error measures the potential difference between a sample statistic and the actual population parameter. - It's important in research and surveys to understand the precision of the results.
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It is given that sample size (n) is 100 and x is 85.

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