Question

6. The sampling distribution of the sample proportion Aa Aa In 2007, about 14% of new-car purchases in New York were financed with a home equity loan. [Source: "Auto Industry Feels the Pain of Tight Credit," The New York Times, May 27, 2008.] The ongoing process of new-car purchases in New York can be viewed as an infinite population Define p as the proportion of the population of new-car purchases in New York that are financed with a home equity loan. The true population value of p is not known, but for the sake of this exercise assume that p - .14 You will calculate an estimate of p by drawing a simple random sample of 50 new-car purchases made in New York. If the purchase was financed with a home equity loan, you record a value of Yes for the variable Home Equity. If the purchase was not financed with a home equity loan, you record a value of No for the variable Home Equity Since the population is infinite, an infinite number of samples can be drawn from the population. The sample data for the variable Home Equity for 15 simple random samples (of size n- 50) that could be pulled from the population are in the data set samples. (Each value of Home Equity is a random selection from a binomial population with p - .14.) Data Set Sample Variables 15 Simple random samples(n-50) drawn from a binomial population (p -0.14) Minitab was used to generate the samples. Samples Observations Observations 50 Variable v Type V Form V Values Missing Sample 1 Sample 2 Sample 3 Sample 4 Sample 5 Sample 6 Sample 7 Sample 8 Sample 9 Sample 10 Sample 11 Sample 12 Sample 13 Sample 14 Sample 15 Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric Qualitative Nonnumeric 50 50 50 50 50 50 50 50 50 Variables Observations> Variable Variable Variable Variable Correlation Correlation 50 50 50 50 Suppose you select sample 2. The values of Home Equity for sample 2 are in the tool in variable Sample 2. Use the sample proportion as an estimator for the population proportion p. The estimate is 26 .

Answer 1

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