Estimate the value of the population proportion

Reference no: EM13180281

A market survey is conducted by your state legislator to determine the proportion of homeowners who would switch to a new "electrical energy supplier" if they had the opportunity afforded them by new state legislation. Of the 1,200 homeowners surveyed, 800 said they would switch.

a. Estimate the value of the population proportion.

b. Compute the standard error of the proportion

c. Develop a 99 percent confidence interval for the population proportion.

d. Interpret the results if the legislator states that 2/3 of the homeowners would switch.

Reference no: EM13180281

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