The Consumer Reports National Research Center conducteda telephone survey of 2,000 adults to learn about the majoreconomic concerns for the future. The survey results showed that1,740 of the respondents think the future health of Social Securityis a major economic concern.
If computing the confidence intervals manually, makesure to use at least three decimal digits for the criticalvalues.
a. What is the point estimate of the populationproportion of adults who think the future health of Social Securityis a major economic concern?
b. At 90% confidence, what is the margin oferror (to 4 decimals)?
c. Develop a 90% confidence interval for thepopulation proportion of adults who think the future health ofSocial Security is a major economic concern (to 3 decimals).
( Â Â Â , ) , ( , )
d. Develop a 95% confidence interval for thispopulation proportion (to 3 decimals).
( , ) , ( , )
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The range for a set of data is estimated to be24.
e. What is the planning value for thepopulation standard deviation?
f. At 95% confidence, how large a sample wouldprovide a margin of error of 3?
g. At 95% confidence, how large a sample wouldprovide a margin of error of 2?
