Compare the margin of error for the interval

Assignment Help Engineering Mathematics

Reference no: EM131456388

Question: A Phoenix Wealth Mamgement/ Harris Interactive survey of 1500 individuals with net worth of SI million or more provided a variety of statistics on wealthy people ( Business Week. September 22. 2003). The previous three-year period had been bad for the stock market. which motivated some of the questions asked.

a. The survey reported that 53% of the respondents lost 25% or more of their portfolio value over the past three years. Develop a 95% confidence interval for the proportion of wealthy people who lost 25% or more of their portfolio value over the past three years.

b. The survey reported that 31% of the respondents feel they have to save more for retirement to make up for what they lost. Develop a 95% confidence interval for the population proportion.

c. Five percent cif the respondents gave S25.030 or more to charity ova the previous year. Develop a 95% confidence interval for the proportion who gave $25.000 or more to charity.

d. Compare the margin of error for the interval estimates in parts (a). (b). and (c). How is the margin of error related to p? When the same sample is being used to estimate a variety of proportions, which of the proportions should be used to choose the planning value p*? Why do you think p* = .50 is often used in these cases?

Reference no: EM131456388

Questions Cloud

Explain the steps involved in developing a strategic plan : Explain the steps involved in developing a strategic plan for a company and determine which step is the most difficult to get right. Explain your rationale.

Which is better for osu freshmen in their role of citizen : To develop your argument, think about the themes we've focused on - the story's "points," provocative questions, issues.

Explanation or analysis of the past event or occurrence : This is your explanation or analysis of past event or occurrence in context of your awareness about social issues from your personal or professional experience

No dividends will be paid on the stock : No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth.

Compare the margin of error for the interval : A Phoenix Wealth Mamgement/ Harris Interactive survey of 1500 individuals with net worth of SI million or more provided a variety of statistics on wealthy.

Find margin error using the sample data : A sample survey of 54 discount brokers showed that the mean price chard for a trade of 100 shares at $50 per share was 533.77.

Diverse work force in a healthcare environment : 1) What are some of the "pros" of having diverse work force in a healthcare environment?

What is the price per share of company stock : Ward Corp. is expected to have an EBIT of $1,950,000 next year. What is the price per share of the company's stock?

Write about anything with the topic of any american space : You can basically write about anything with the topic of any American Space, Building that can be come up with the culture. For example, for my rough draft

User Account

All Pages