Suppose a polling agency reported that 45.7% of registered voters were in favor of raising income taxes to pay down the national
debt. The agency states that results are based on telephone interviews with a random sample of 1033 registered voters. Suppose the agency states the margin of error for 99% confidence is 4.0%. Determine and interpret the confidence interval for the proportion of registered voters who are in favor of raising income taxes to pay down the national debt.
99% confidence interval for the proportion of registered voters who are in favor of raising income taxes to pay down the national debt. = (0.417, 0.497)
Interpretation : We are 99% sure that the true population proportion of registered voters who are in favor of raising income taxes to pay down the national debt lies in interval (0.417, 0.497).