SOLUTION: Can you please help assist me with problem I am having a hard time. 8) A marketing research company is estimating which of two soft drinks college students prefer. A random samp

Question 752732: Can you please help assist me with problem I am having a hard time.
8) A marketing research company is estimating which of two soft drinks college students prefer. A random sample of n college students produced the following 90% confidence interval for the proportion of college students who prefer drink A: (. 406, . 586). Identify the point estimate for estimating the true proportion of college students who prefer that drink.
A) .0 9 B) . 406 C) . 586 D) . 496

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A marketing research company is estimating which of two soft drinks college students prefer. A random sample of n college students produced the following 90% confidence interval for the proportion of college students who prefer drink A: (. 406, . 586). Identify the point estimate for estimating the true proportion of college students who prefer that drink.
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The width of every conficence interval is twice the margin of error.
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P-hat is the average of the upper and lower bounds of the CI
p-hat = (0.586+0.406)/2 = 0.496
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Cheers,
Stan H.
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A) .0 9 B) . 406 C) . 586 D) . 496

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