Joey would like to apply for a loan but knows that his high debt-to-income (DTI) ratio will probably get in his way
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<u>Supposing 60 out of 100 scores are passing scores</u>, the 95% confidence interval for the proportion of all scores that are passing is (0.5, 0.7).
- The lower limit is 0.5.
- The upper limit is 0.7.
In a sample with a number n of people surveyed with a probability of a success of , and a confidence level of
, we have the following confidence interval of proportions.
In which
z is the z-score that has a p-value of .
60 out of 100 scores are passing scores, hence
95% confidence level
So , z is the value of Z that has a p-value of
, so
.
The lower limit of this interval is:
The upper limit of this interval is:
The 95% confidence interval for the proportion of all scores that are passing is (0.5, 0.7).
- The lower limit is 0.5.
- The upper limit is 0.7.
A similar problem is given at brainly.com/question/16807970
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