SOLUTION: 1. In a survey, 40 randomly picked people were asked if they rented or owned their own home, 15 said they rented. Obtain a point estimate of the true proportion of home owners. Rou

Algebra ->  Probability-and-statistics -> SOLUTION: 1. In a survey, 40 randomly picked people were asked if they rented or owned their own home, 15 said they rented. Obtain a point estimate of the true proportion of home owners. Rou      Log On


   

Question 929988: 1. In a survey, 40 randomly picked people were asked if they rented or owned their own home, 15 said they rented. Obtain a point estimate of the true proportion of home owners. Round the answer to nearest thousandth

None of the above

0.273

0.375

0.725

0.455
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
p(homeowners) = 25/40 = .625