A simple random sample of 2500 BC single occupant dwellings revealed that 850 reported spending more than $750 a month on groceries.
a) Provide the point estimate of the population proportion of single occupant dwellings that spend more than $750 a month on groceries
b) Calculate the standard error of proportion using a minimum of 4 decimal places for intermediate calculations.
Here n = 2500 ; x = 850
(a) point estimate of the population proportion of single occupant dwellings that spend more than $750 a month on groceries = p^ = 850/2500 = 0.34
(b) Standard error = sqrt [p^ * (1-p^)/n] = sqrt [0.34 * 0.66/2500] = 0.0095
A simple random sample of 2500 BC single occupant dwellings revealed that 850 reported spending more...
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