The exchange rate of U.S. dollars to British pounds (£) .63. You have $4000 to convert to British pounds. How many british pound
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The point Estimate is 0.645 , the confidence interval is (0.525 ,0.764).
<h3>What is Point Estimate ?</h3>The point estimate is the proportion of success in the sample.
From the data given
p = 40/62
p = 0.645
The point Estimate is 0.645
(b) Confidence interval for true proportion is
For 95 % Z = 1.96
p =0.645
1-p = 0.355
putting the values
(0.525 , 0.764)
Lower Limit = 0.525
Upper Limit = 0.764
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