What is the value of the point estimate for our 90% confidence interval? Round your answer to three decimal places. b. What is the margin of error for our 90% confidence interval? (Use the formula to compute it). Round your answer to three decimal places. c. Using your answers to parts (a) and (b), create a 90% confidence interval to estimate the proportion of people that developed side effects to the medication. Round your answer to three decimal places d. Based on your confidence interval from part (c), is it safe to release the medication to the public? Explain the reasoning.
Suppose that a new medication is being developed. In order to release it to the
public, the proportion of people that develop side effects has to be less than a 3%.
Researchers gave the medication to a simple random sample of 615 participants and
recorded the number of participants that developed side effects. The results are
shown below. Use this information to create a 90% confidence interval.
Developed side effects Frequency
Yes 17
No 598
a. What is the value of the point estimate for our 90% confidence interval? Round your answer to three decimal places.
b. What is the margin of error for our 90% confidence interval? (Use the formula to compute it). Round your answer to three decimal places.
c. Using your answers to parts (a) and (b), create a 90% confidence
d. Based on your confidence interval from part (c), is it safe to release the medication to the public? Explain the reasoning.
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