SOLUTION: The first national bank of wilson has 650 (population) checking account customers. A recenter sample of 50 (sample) of these customers showed 26 to have a visa card with the bank.

Question 360435: The first national bank of wilson has 650 (population) checking account customers. A recenter sample of 50 (sample) of these customers showed 26 to have a visa card with the bank. Construct the 99 percent confidence interval for the proportion of checking account customers who have a visa card with the bank.
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
*The first national bank of Wilson has 650 (population) checking account customers. A recent sample of 50 (sample) of these customers showed 26 to have a visa card with the bank. Construct the 99 percent confidence interval for the proportion of checking account customers who have a visa card with the bank.*
The confidence interval for a proportion, , is
p � z σp, where p = 26/50 = 0.52, σp = (Note that this is just an estimate of the standard error of the proportion, since isn't given in the problem), and z = 2.575.
Thus 0.52� (2.575)*(0.070654), or (0.338066, 0.701934)
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