1 divided by 1/10=....
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Answer:
Interval estimate for the proportion of all homeowners in the United States that hold a home equity loan lie between (.17033 , .22967 ) or 17% to 22.9%
Step-by-step explanation:
Given -
In a recent poll of 1,200 homeowners in the United States, one in five homeowners reports having a home equity loan that he or she is currently paying off.
If one in five homeowners reports having a home equity loan then for 1200 homeowners = = 240 homeowners reports having a home equity loan.
Sample proportion =
= 0.2
confidence coefficient = 0.99
= 1 - confidence coefficient = 1 - 0.99 = .01
= 2.58
interval estimate for the proportion of all homeowners in the United States that hold a home equity loan
=
=
=
=
=
= (.17033 , .22967 )