We are interested in estimating the proportion of graduates at a mid-sized university who found a job within one year of completing their undergraduate degree. We can do so by creating a 95% confidence interval for the true proportion p. Suppose we conduct a survey and find out that 340 of the 430 randomly sampled graduates found jobs within one year. Assume that the size of the population of graduates at this university is large enough so that all our conditions for normality are satisfied. (a). What is the value of the point estimate for the proportion of graduates who found a job within one year? In other words, what is p? Round your answer to two decimal places. (b) Calculate the standard error of p. (c) the critical z-score in this case is approximately z* = 1.96. Then determine the lower and upper bounds of the interval. For a 95% confidence interval, determine the margin of error. Note that %3D

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
We are interested in estimating the proportion of graduates at a mid-sized university
who found a job within one year of completing their undergraduate degree. We can do
so by creating a 95% confidence interval for the true proportion p. Suppose we conduct
a survey and find out that 340 of the 430 randomly sampled graduates found jobs within
one year. Assume that the size of the population of graduates at this university is large
enough so that all our conditions for normality are satisfied.
(a)
who found a job within one year? In other words, what is p? Round your answer
to two decimal places.
What is the value of the point estimate for the proportion of graduates
(b)
Calculate the standard error of p.
(c)
the critical z-score in this case is approximately z* = 1.96. Then determine the
lower and upper bounds of the interval.
For a 95% confidence interval, determine the margin of error. Note that
Transcribed Image Text:We are interested in estimating the proportion of graduates at a mid-sized university who found a job within one year of completing their undergraduate degree. We can do so by creating a 95% confidence interval for the true proportion p. Suppose we conduct a survey and find out that 340 of the 430 randomly sampled graduates found jobs within one year. Assume that the size of the population of graduates at this university is large enough so that all our conditions for normality are satisfied. (a) who found a job within one year? In other words, what is p? Round your answer to two decimal places. What is the value of the point estimate for the proportion of graduates (b) Calculate the standard error of p. (c) the critical z-score in this case is approximately z* = 1.96. Then determine the lower and upper bounds of the interval. For a 95% confidence interval, determine the margin of error. Note that
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman