Statistics questions

Statistics
Tutor: None Selected Time limit: 1 Day

1132 tankers is drawn 861 did not have spills p=0.239. Construct the 98% confidence interval for the population proportion of oil tankers that have spills each month lower bound and upper bound round answers to 3 decimal places

Mar 5th, 2015

To find the 98% confidence interval we first find Z_crit, which is given by:

N.inv ( p = 0.99 , mean = 0, sd = 1 ) = 2.326

We then find the standard error, which so long as your population is large can be estimated by:

SE = sqrt[ p*( 1 - p ) / n ] where p = 0.239 and n = 1132:

SE = sqrt(0.239*(0.761)/1132) = 0.0127

Multiply SE by Z_crit:

0.0127 * 2.326 = 0.0295

So the interval is given by 0.239-0.0295 , 0.239+0.0295 = (0.210, 0.269) (to 3 decimal places)


Mar 5th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Mar 5th, 2015
...
Mar 5th, 2015
Dec 8th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer