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.

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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) About Me  (Show Source):
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*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, pi, is
p ± z σp, where p = 26/50 = 0.52, σp = sqrt%28%28%280.52%2A0.48%29%2F50%29%29=0.070654(Note that this is just an estimate of the standard error of the proportion, sincepi isn't given in the problem), and z = 2.575.
Thus 0.52± (2.575)*(0.070654), or (0.338066, 0.701934)