document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1163068>Question 1163068</A>: <I><SPAN STYLE=\"word-break: break-all;\"> PLEASE HELP!!!!!!!!!!!<BR>\n" );
document.write( "In a recent poll of 1,600 homeowners in the United States, one in eight homeowners reports having a home equity loan that he or she is currently paying off. Using a confidence coefficient of 0.99, derive the interval estimate for the proportion of all homeowners in the United States that hold a home equity loan. (You may find it useful to reference the z table. Round intermediate calculations to at least 4 decimal places. Round \"z\" value and final answers to 3 decimal places.)  \r<BR>\n" );
document.write( "\n" );
document.write( "Thank you very much for your help!! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #787027 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=787027\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> half-interval for a 99% CI is z(0.995)*sqrt(p*(1-p)/n. p=1/8 1-p=7/8 and their product is 1/64<BR>\n" );
document.write( "sqrt term is sqrt(7/64)/sqrt(1600)=sqrt(7)/8*40\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "=2.576*(sqrt(7/64))/40<BR>\n" );
document.write( "=2.576*sqrt(7)/320<BR>\n" );
document.write( "=0.0213<BR>\n" );
document.write( "interval is 1/8+/-0.0213<BR>\n" );
document.write( "(0.1037, 0.1463) or (0.104, 0.146) </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );