SOLUTION: 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 fo

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Question 444353: 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: (.255, .575). Identify the point estimate for estimating the true proportion of college students who prefer that drink.
Answer by stanbon(75887) (Show Source):
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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: (.255, .575). Identify the point estimate for estimating the true proportion of college students who prefer that drink.
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Equations:
x-bar + ME = 0.575
x-bar - ME = 0.255
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Add and solve for x-bar:
2(x-bar) = 0.830
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x-bar = = 0.415
That is the point estimate of the true proportion.
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cheers,
Stan H.
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