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yan [13]
3 years ago
4

A 90% confidence interval for a proportion is found to be (0.22, 0.28). What is

Mathematics
1 answer:
UNO [17]3 years ago
5 0

Answer:

The sample proportion is 0.253.

Step-by-step explanation:

We are given that a 90% confidence interval for a proportion is found to be (0.22, 0.28).

<u>Firstly, as we know that the confidence interval for sample proportion is calculated as;</u>

90% confidence interval = Sample proportion \pm Margin of Error

Here, let \hat p = sample proportion

Also, the level of significance = 1 - 0.90 = 0.10 or 10%

And, the critical value of z at 5% (two-sided) level of significance is 1.645.

So, 90% confidence interval =  \hat p \pm 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }

           (0.22 , 0.28)    =   \hat p \pm 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }

This means;  

          0.22  =  \hat p - 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }  -------------- [Equation 1]

          0.28  =  \hat p + 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }  -------------- [Equation 2]

From equation 1 and 2, we get;

           0.22 + 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }= 0.28 - 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }

           1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} } + 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }= 0.28 -0.22

             2 \times 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} } =0.06

                 \sqrt{\frac{\hat p(1-\hat p)}{n} } =\frac{0.06}{2 \times 1.645}

                  \sqrt{\frac{\hat p(1-\hat p)}{n} } =0.02

Now, squaring both sides, we get;

                    {\frac{\hat p(1-\hat p)}{n} } =0.0004

                      n ={\frac{\hat p(1-\hat p)}{0.0004} }

Now, putting value of n in equation 1, we get;

                    0.22  =  \hat p - 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{n} }  

                    0.22  =  \hat p - 1.645 \times \sqrt{\frac{\hat p(1-\hat p)}{\hat p(1-\hat p)}\times 0.0004 }

                    0.22  =  \hat p - 1.645 \times \sqrt{ 0.0004 }

                    0.22  =  \hat p -( 1.645 \times 0.02)

                    0.22  =  \hat p -0.033

                      \hat p = 0.22 + 0.033 = 0.253

Therefore, the sample proportion  \hat p is 0.253.

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Step-by-step explanation:

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Answer:

$2000 was invested at 5% and $5000 was invested at 8%.

Step-by-step explanation:

Assuming the interest is simple interest.

<u>Simple Interest Formula</u>

I = Prt

where:

  • I = interest earned.
  • P = principal invested.
  • r = interest rate (in decimal form).
  • t = time (in years).

Given:

  • Total P = $7000
  • P₁ = principal invested at 5%
  • P₂ = principal invested at 8%
  • Total interest = $500
  • r₁ = 5% = 0.05
  • r₂ = 8% = 0.08
  • t = 1 year

Create two equations from the given information:

\textsf{Equation 1}: \quad \sf P_1+P_2=7000

\textsf{Equation 2}: \quad \sf P_1r_1t+P_2r_2t=I\implies 0.05P_1+0.08P_2=500

Rewrite Equation 1 to make P₁ the subject:

\implies \sf P_1=7000-P_2

Substitute this into Equation 2 and solve for P₂:

\implies \sf 0.05(7000-P_2)+0.08P_2=500

\implies \sf 350-0.05P_2+0.08P_2=500

\implies \sf 0.03P_2=150

\implies \sf P_2=\dfrac{150}{0.03}

\implies \sf P_2=5000

Substitute the found value of P₂ into Equation 1 and solve for P₁:

\implies \sf P_1+5000=7000

\implies \sf P_1=7000-5000

\implies \sf P_1 = 2000

$2000 was invested at 5% and $5000 was invested at 8%.

Learn more about simple interest here:

brainly.com/question/27743947

brainly.com/question/28350785

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