Question 257015: Another question:
5.The Federal Bureau of Labor Statistics surveyed 50,000 and found the unemployment rate to be 5.8%. Find the margin of error for a 98% confidence and then construct to the 98% confidence interval for the population proportion p.
a.Find the margin of error E.
Round to the nearest three decimals
b.Construct a 98% confidence interval for the population proportion p of the unemployment rate.
This is what I have come up with is:
part a: n=50,000 x=5.8% 5.8/50,000=0.000116=1.16
part b: q=1-0.000116=0.9998841, n=50,000 50,000*0.000116=5.8 50,000*0.9998841=4.999205
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The Federal Bureau of Labor Statistics surveyed 50,000 and found the unemployment rate to be 5.8%. Find the margin of error for a 98% confidence and then construct to the 98% confidence interval for the population proportion p.
a.Find the margin of error E.
Round to the nearest three decimals
E = 2.3263*sqrt[0.058*0.942/50000] = 0.0024
===
b.Construct a 98% confidence interval for the population proportion p of the unemployment rate.
98% CI: 0.058-0.0024 < p < 0.058+0.0024
98% CI: 0.0556 < p < 0.0604
=======================================
cheers,
stan H.
|
|
|
