You are running a concession stand at a basketball game. You are selling hot dogs and sodas. Each hot dog costs $1.50 and each s
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Answer:
Step-by-step explanation:
given that we are interested in finding out the proportion of adults in the United State who cannot cover a $400 unexpected expense without borrowing money or going into debt.
Sample size = 765
Favour = 322
a) The population is the adults in the United State who cannot cover a $400 unexpected expense without borrowing money or going into debt
b) The parameter being estimated is the population proportion P of adults in the United State who cannot cover a $400 unexpected expense without borrowing money or going into debt.
c) point estimate for proportion = sample proporiton =
d) We can use test statistic here as for proportions we have population std deviation known.
d) Std error = 0.01785(
Test statistic Z = p difference / std error
f) when estimated p is 0.50 we get Z = -4.43
g) Is true population value was 40% then
Z = 1.17 (because proportion difference changes here)