Question

Question 22 (8 points) Solve the problem. The following confidence interval is obtained for a population proportion, p: 0.494 < p < 0.520 Use these confidence interval limits to find the point estimate, p. O 1) 0.503 2) 0.511 O 3) 0.507 O 4) 0.494

Answer 1

Given that,
Lower bound= 0.494 ,

Upper bound= 0.520,

The point estimate(p^) can be calculated as,
p^ =( Upper bound +Lower bound)/2
=( 0.520+0.494)/2

= 1.014 /2
=0.507
Point estimate of population proportion (p^) = 0.507

Answer Option 3 ) 0.507