Question

The following data represent the responses​ (Y for yes and N for​ no) from a sample of 20 college students to the question​ "Do you currently own shares in any​ stocks?"

Y Y N Y N Y N Y Y N Y Y Y N Y Y N Y Y Y  

a. Determine the sample​ proportion, p, of college students who own shares of stock.

b. If the population proportion is 0.40​, determine the standard error of the proportion.

(Round to two decimal places as​ needed.)

Answer 1

Solution:-

a.)Sample Size=20

Yes(Y)=14, No(N)=6

Sample​ Proportion,(P) of college students who own shares of stock.=14/20

=0.7 ....ans

b.)

Population Proportion (p)=0.40

Standard Error of the Proportion (SE_p )= sqrt [ p(1 - p) / n ]

=sqrt(0.4*0.6/20)

=0.109544

=0.11 ....ans.

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