In a poll of registered voters nationwide, 43% of those polled blamed oil companies the most for the recent increase in gasoline prices. the margin of error at the 95% confidence level for this point estimate is 2.4%. construct a 95% confidence level for the population proportion who blame oil companies for the recent increase in gasoline prices.
Accepted Solution
A:
In this case, Point estimate (p) = 43% = 0.43 of the population Error at 95% confidence level (e)= 2.4% = 0.024 of the population
Now, True population proportion = p+/- e = 0.43+/- 0.024 = (0.406,0.454)
That is, the true proportion of the population who blame oil companies lies between 0.406 and 0.454.