6. A state university randomly selects 500 students and finds that 375 of them say "being very well-off financially" is an important goal. a. Find the observed sample statistic. Use the proper notation (or p). (Letter) (Value) b. Verify that the sample size is large enough to use the normal distribution to construct a confidence interval for the true proportion of the population that say "being very well-off financially" is an important goal. Show calculations. C. Construct a 99% confidence interval for the proportion of the population who believe "being very well-off financially" is an important goal. Show all organized work as was done in the videos and box your final answer.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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6. A state university randomly selects 500 students and finds that 375 of them say "being very well-off financially" is an
important goal.
a.
Find the observed sample statistic. Use the proper notation (or p).
C.
(Letter)
b. Verify that the sample size is large enough to use the normal distribution to construct a confidence interval for
the true proportion of the population that say "being very well-off financially" is an important goal. Show
calculations.
(Value)
d. Provide an interpretation of your interval in the context of the data.
Construct a 99% confidence interval for the proportion of the population who believe "being very well-off
financially" is an important goal. Show all organized work as was done in the videos and box your final answer.
e. According to your confidence interval in c., is it reasonable to assume that 78% of the students feel that "being
very well-off financially" is an important goal? Clearly answer "yes" or "no".
your answer.
Ans provide explanation for
1
Transcribed Image Text:6. A state university randomly selects 500 students and finds that 375 of them say "being very well-off financially" is an important goal. a. Find the observed sample statistic. Use the proper notation (or p). C. (Letter) b. Verify that the sample size is large enough to use the normal distribution to construct a confidence interval for the true proportion of the population that say "being very well-off financially" is an important goal. Show calculations. (Value) d. Provide an interpretation of your interval in the context of the data. Construct a 99% confidence interval for the proportion of the population who believe "being very well-off financially" is an important goal. Show all organized work as was done in the videos and box your final answer. e. According to your confidence interval in c., is it reasonable to assume that 78% of the students feel that "being very well-off financially" is an important goal? Clearly answer "yes" or "no". your answer. Ans provide explanation for 1
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