Decide if the following is a true or false statement - explain how you
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Sample Size = n = 1200
Number of people who are willing to pay higher = x = 708
Proportion of people who are willing to pay higher = p =
Confidence Level = 99%
Z Value = z = 2.58
The confidence interval about a population proportion can be calculated as:
Using the values, we get:
Thus, at 99% confidence level, the estimated proportion of people willing to pay higher prices for gas in order to protect the environment lies between 0.553 and 0.627.
Number of people who are willing to pay higher = x = 708
Proportion of people who are willing to pay higher = p =
Confidence Level = 99%
Z Value = z = 2.58
The confidence interval about a population proportion can be calculated as:
Using the values, we get:
Thus, at 99% confidence level, the estimated proportion of people willing to pay higher prices for gas in order to protect the environment lies between 0.553 and 0.627.