SOLUTION: The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one traffic ticket during a five-year period is .15.
Show the sampling
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Question 335471: The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one traffic ticket during a five-year period is .15.
Show the sampling distribution of –p if a random sample of 150 insured individuals is use to estimate the proportion having received at least one ticket.
What is the probability that the sample proportion will be within +or- .03 of the population proportion?
You can put this solution on YOUR website! The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one traffic ticket during a five-year period is .15.
p = 0.15
std = sqrt(pq) = sqrt(0.15*0.85) = 0.3571
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Show the sampling distribution of p-hat if a random sample of 150 insured individuals is used to estimate the proportion having received at least one ticket.
mean = 0.15
standard deviation: sqrt(pq/n)= sqrt{0.15*0.85/150) = 0.0292
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What is the probability that the sample proportion will be within +or- .03 of the population proportion?
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0.03/0.0292 = 1.0290
-0.03/0.0292 = -1.0290
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+0.03 is 1.0290 standard deviations to the right of p=0.15
-0.03 is 1.0292 standard deviations to the left of p= 0.15
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The probability the sample proportion will be in the prescribed
interval is 2*P(0<= z <=1.0292) = 0.6966
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Cheers,
Stan H.
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