A report on consumer financial literacy summarized data from a representative sample of 1,664 adult Americans. Based on data from this sample, it was reported that over half of U.S. adults would give themselves a grade of A or B on their knowledge of personal finance. This statement was based on observing that 939 people in the sample would have given themselves a grade of A or B.
(a) Construct and interpret a 95% confidence interval for the proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance. (Round your answers to three decimal places.)
(,)
(b) Is the confidence interval from part (a) consistent with the statement that a majority of adult Americans would give themselves a grade of A or B? Explain why or why not.
Because this confidence interval _____ is entirely below 0.5contains 0.5is entirely above 0.5 , the interval ______ is not consistent with the statement that a majority of adult Americans would give themselves a grade of A or B.

Answers

Answer 1

Answer:

a. The 95% confidence interval for the proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is (0.54, 0.588). This means that we are 95% sure that the true proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is between these two bounds.

b. Because this confidence interval is entirely above 0.5, the interval is consistent with the statement that a majority of adult Americans would give themselves a grade of A or B.

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of [tex]\pi[/tex], and a confidence level of [tex]1-\alpha[/tex], we have the following confidence interval of proportions.

[tex]\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}[/tex]

In which

z is the zscore that has a pvalue of [tex]1 - \frac{\alpha}{2}[/tex].

Sample of 1,664 adult Americans, 939 people in the sample would have given themselves a grade of A or B in personal finance.

This means that [tex]n = 1664, \pi = \frac{939}{1664} = 0.5643[/tex]

95% confidence level

So [tex]\alpha = 0.05[/tex], z is the value of Z that has a pvalue of [tex]1 - \frac{0.05}{2} = 0.975[/tex], so [tex]Z = 1.96[/tex].

The lower limit of this interval is:

[tex]\pi - z\sqrt{\frac{\pi(1-\pi)}{n}} = 0.5643 - 1.96\sqrt{\frac{0.5643*0.4357}{1644}} = 0.54[/tex]

The upper limit of this interval is:

[tex]\pi + z\sqrt{\frac{\pi(1-\pi)}{n}} = 0.5643 + 1.96\sqrt{\frac{0.5643*0.4357}{1644}} = 0.588[/tex]

The 95% confidence interval for the proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is (0.54, 0.588). This means that we are 95% sure that the true proportion of all adult Americans who would give themselves a grade of A or B on their financial knowledge of personal finance is between these two bounds.

(b) Is the confidence interval from part (a) consistent with the statement that a majority of adult Americans would give themselves a grade of A or B?

Yes, because the confidence interval is entirely above 0.5.

Because this confidence interval is entirely above 0.5, the interval is consistent with the statement that a majority of adult Americans would give themselves a grade of A or B.


Related Questions

2/7 of students in a school are in 8th grade.

How many students are in the school if 40 of them are 8th graders?

Answers

Answer:

140

Step-by-step explanation:

First we would find the unit rate of students per seventh. So we would do 40 divided by 2 which gives us 20. So per 1/7 we have 20 students. Which we can then say 7 x 20 = 140. So in total there are 140 students

Hope this helped

Mohamed Hubabi charges $12.00 for 40 pieces of spicy seaweeds.
At this rate, how much will 100 pieces of spicy seaweeds cost?

A) $333.33
B) $100.30
C) $30
D) $48

Answers

Answer:

c. $30

...................

Please help me. I need help

Answers

Answer:

(X+1)(x+5)

Step-by-step explanation:

Answer:

the zeroes are -5 and -1 so the factors are (x + 5)(x + 1)

A football team received a gain of 12 yards on their first play of the game. Write an integer to
represent this situation?​

Answers

The photo has the answer!

Can someone please help​

Answers

Answer:

12x+3x=15+6

15x=21

divide both sides by 15

x=7/5

Answer:

hey well use transposition method in this

so 12x-15=6-3x

so.12x+3x-15=6 (we transposed-3 to other side so it became +3)

15x-15=6

15x=6+15

15x=21

X=21/15

X= 1.4

I think I'm correct but if wrong pls don't report me just correct me so I can learn

Help please, I'm stuck ​

Answers

Answer:

Z<-3 is the anwser to this question, good luck !

Multiply through by LCM, 4

[tex] \frac{ - 3z - 1}{2} \times 4 > \: \: \: \frac{4}{1} \times 4[/tex]

[tex]2( - 3z - 1) > 16[/tex]

[tex] - 6z - 2 > 16[/tex]

[tex] - 6z > 16 + 2[/tex]

[tex] - 6z > 18[/tex]

[tex] \frac{ - 6z}{ - 6} < \frac{18}{ - 6} [/tex]

[tex]z < - 3[/tex]

g Based on data from the Garbage Project conducted by the Midwestern State University the weights of paper discarded by the households in a certain residential area weekly is Normally distributed with the average of 7.95 lb and the standard deviation of 3.12 lb. Which value separates the top 2% of the weekly discarded paper weights in this area

Answers

Answer:

The value of 14.36 lb separates the top 2% of the weekly discarded paper weights in this area.

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Normally distributed with the average of 7.95 lb and the standard deviation of 3.12 lb.

This means that [tex]\mu = 7.95, \sigma = 3.12[/tex]

Which value separates the top 2% of the weekly discarded paper weights in this area?

This is the 100 - 2 = 98th percentile, which is X when Z has a pvalue of 0.98. So X when Z = 2.054.

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]2.054 = \frac{X - 7.95}{3.12}[/tex]

[tex]X - 7.95 = 2.054*3.12[/tex]

[tex]X = 14.36[/tex]

The value of 14.36 lb separates the top 2% of the weekly discarded paper weights in this area.

-2(n+3)=13 help plz plz plz

Answers

First move the -2 to the other side
Since it is multiplying the brackets we do the opposite and divide 13 by -2
We now have n+3=6.5
Now to get n as the subject we do the opposite of plus 3 so we minus 3 from the other side
So n=3.5

Answer:

n = -9.5 or n = -19/2

Step-by-step explanation:

how many minutes are there in 12.5 hours​

Answers

Answer:

750 minutes

Step-by-step explanation:

there are 750 minutes in 12,5 hours hope that helps

Answer:

Everyone else is correct it's 750 minutes

Steph curry makes 90.3% of his free throws
If he attempts 3 free throws, what is the probability he makes the first one and misses the second and third?

Answers

Answer:

The probability is roughly 0.85%.

Step-by-step explanation:

This situation requires the combination of the probabilities in question.

The probability that Steph will make a throw is 90.3%, and from this we can conclude that the amount missed, or the probability of missing will be the remaining, or [tex]100\%-90.3\%=9.7\%[/tex].

Let's combine the probabilities, remembering a percentage simply means a number over 100:

[tex]P=\frac{90.3}{100} *\frac{9.7}{100}*\frac{9.7}{100}=\frac{90.3*9.7*9.7}{100*100*100}\\\\P=\frac{8496.327}{1 000 000}=0.008496327\\\\P(\%)=0.008496327*100=0.8496327\%[/tex]

if Patty has 56 apples and And has 87 pears how many grapes do they have in total including Ava's 890 blueberries?

Answers

Answer:

Patty has 10 onions, And has 500 watermelons and Ava has a banana

how do you find the height of a cone using the slanted height PLEASE HELP! MAKE SURE ANSWER IS CLEAR

Answers

Answer:

Step-by-step explanation:

Well you can't find the height of the cone using only the slant height because there simply isn't enough information

S = Slant Height

R = Radius

H = Height

However if you had the radius of the base of the cone, then you can use the Pytagorean theorem like so: H = square root(S^2 - R^2)

If you had the angle the slant made against the base, you could use:

H = S*sin(Angle)

Allison Amy decide to meet from a party for my corner of the party hall any spots Alice at the corner of the hall diagonally opposite of her if the party hall is a rectangle that measures 100 feet by 60 feet what is the shortest distance they may have to walk to reach Alice round your answer to the nearest Foot​

Answers

Answer:

Given that the hall is rectangular in shape, then the shortest path that Amy must travel to reach Alice would be through the hall's diagonal. Applying the Pythagorean theorem, with the length and width as the legs and the diagonal as the hypotenuse of the right triangle. Thus, diagonal = √ ( 100² + 60²) = √13 600 ≈ 116.62 ft The shortest distance, rounded off to the nearest foot, is 117 ft.

Step-by-step explanation:

its already an explanation...

Liz deposited $2,000 into a savings account that pays 8% compounded quarterly. Complete the table to compute the amount in the account after 1 year

Answers

2000*1.02^4=2164.86

Thank you hope this helps

(Write a sentence equation ) There are 3 lambs .Each lamb has 4 legs. How many legs are there on 3 Lambs?​

Answers

Answer:

Well its basically 3 x 4 = 12, so for every lamb add four legs until you get to three

Step-by-step explanation:

Ryan practiced 43.2 minutes on Monday on his violin. Tuesday, he practiced 37.48 minutes. If he practiced a total of 114.34 minutes for Monday, Tuesday, and Wednesday, how many minutes did Ryan practice on Wednesday?


Ryan practiced ________ minutes on Wednesday.
please help :)

Answers

Answer:

Ryan practiced 33.66 minutes on Wednesday

Step-by-step explanation:

You do 43.2+37.48 and it equals 80.68

Then you do 114.34-80.68 which equals 33.66

Tanner is an 8th grader in Texas and wants to attend Stanford University after he graduates from
high school. Stanford is a private university and one year of tuition cost $46,320. He plans to attend
Stanford for four years and graduate with a bachelor's degree. His parents have committed to giving
him $8,000 each year towards tuition. Tanner plans to save for the next four years to prepare for the
cost. Determine the minimum amount of money he will need to save each month to pay for one year
of tuition.

Answers

Tanner will have to save $3,193.34 per month for 4 years to pay his tuition for Stanford.

Tanner's tuition over 4 years to get his Bachelor's degree all together will cost $185,280 (multiply 46,320×4). His parents will pay $32,000 (multiply 8,000×4) of his whole tuition. If we do the equation $185,280-$32,000 we get $153,280 which is what Tanner will have to pay. There are 48 months in 4 years. To find the answer you must solve the problem 48x= $153,280. To solve the problem divide both sides by 48. The answer to this equation is technically $3,193.3333333333 but for simplicity's sake we can round to $3,193.34. That is why the answer to this question is $3,193.34 per month of savings.

Given that f(x) = -3x, g(x) = x + 3 and h(x) = 3f(x + 1) = g(x), then
what is the value of h(2)?

Answers

Answer:

hkhqews

Step-by-step explanation:

nc2ecnw

buna seara ce faceti eu sunt un om

Answers

Answer:

5

Step-by-step explanation:

Answer:

Sunt și bărbat, ești foarte înfiorător

Step-by-step explanation:

solve for x
please help​

Answers

Answer:

your answer will be X=11.1

hope it helps you ...

13. In the given circle, AB = 13 m, BC = 6 m, and CD = 8 m. If DE = x, find the value
of x. (The figure is not drawn to scale.)
E
x
A
B
A. 13.25 m
B. 9.75 m
C. 6.25 m
D. 14.25 m

Answers

do you know what the answer was?

what is proof?
where/when/how was it created?
How is it used?

Answers

Answer: I did a lot of research for this :)

Step-by-step explanation:

Proof is reasoning that an equation or expression works. It is used in Geometry and Calculus. It is likely first created as an ancient greek mathematics reasoning. Thales was one of the first text books featuring geometry proof(624–546 BCE). It is used to prove that the equation matches.

please help me!!!!!!!!!!!!

Answers

Answer:

C. and D. are correct

Step-by-step explanation:

I solved all of them

A would be 0.5 not 2

B would be 2.5 not 2

E would be 0.5 not 2

hope this helps <3

plzzz help will mark you brainliest

Answers

Answer:

C, y =8x

Step-by-step explanation:

As you can see from the table, y is basically x multiplied by 8 at all instances.

Answer: y=8x

Step-by-step explanation:

y=8x means that the number in the y column (the total cost) equals whatever is in the x column (number of tickets) times by 8. The reason you do times is because in algebra when a number is next to a letter it means times.

So, you can test it using the data in the table:

16=2×8

24=3×8

32=4×8 etc.

And we know it works.

Hope this helps :)

Adalia has a cooler where the inside is in a shape of a rectangular prism. The inside of the cooler is 20 inches wide, 14 inches high, and 12 inches long. What is the volume in cubic inches of the inside of the cooler?
( will give brainliest if u help)

Answers

Answer:

A.

Step-by-step explanation:

took test

I think the answer is A

Can someone please give me the answer I will mark u brilliant

Answers

it should be A: (3,-1)

Number 1 and solve please

Answers

ok.........................................

We are formulating a 90% confidence interval for the population mean and would like our confidence interval to have a margin of error that is not larger than 3. Experience suggests that a reasonable estimate for the population standard deviation is 15. What minimum sample size should be anticipate using? (NOTE: Round your final answer up to the next whole number).

Answers

Answer:

A sample size of 68 should be anticipated using.

Step-by-step explanation:

We have that to find our [tex]\alpha[/tex] level, that is the subtraction of 1 by the confidence interval divided by 2. So:

[tex]\alpha = \frac{1 - 0.9}{2} = 0.05[/tex]

Now, we have to find z in the Ztable as such z has a pvalue of [tex]1 - \alpha[/tex].

That is z with a pvalue of [tex]1 - 0.05 = 0.95[/tex], so Z = 1.645.

Now, find the margin of error M as such

[tex]M = z\frac{\sigma}{\sqrt{n}}[/tex]

In which [tex]\sigma[/tex] is the standard deviation of the population and n is the size of the sample.

Experience suggests that a reasonable estimate for the population standard deviation is 15

This means that [tex]\sigma = 15[/tex]

What minimum sample size should be anticipate using?

Margin of error at most 3, which means that the sample size is n when M = 3. So

[tex]M = z\frac{\sigma}{\sqrt{n}}[/tex]

[tex]3 = 1.645\frac{15}{\sqrt{n}}[/tex]

[tex]3\sqrt{n} = 1.645*15[/tex]

Simplifying both sides by 3:

[tex]\sqrt{n} = 1.645*5[/tex]

[tex](\sqrt{n})^2 = (1.645*5)^2[/tex]

[tex]n = 67.7[/tex]

Rounding up

A sample size of 68 should be anticipated using.

How many fifths are there in 3⅗​

Answers

Answer:

18/5

Step-by-step explanation:

5 1/5 = 1 thus 3 are 15 + 3 = 18/5

Answer:

The answer is 18 fifths.

Step-by-step explanation:

3 = 15/3 + 3/5 = 18/3 fifths.

the currency in sweden is the kronor. the exchange rate is approximately $1 for every 7 kronor. at this rate, how many dollars would you get if you exchanged 14 kronor?

Answers

Answer:

$2

Step-by-step explanation:

If $1 = 7 kronor, 2$ would = 14 kronor

We would get $2 if we exchanged 14 kronor a the given exchange rate.

What is Kronor?

Kronor is the currency of Sweden.

How much Kronor is one Dollar?

One dollar is the equivalent of 7 kronor.

It is given that $1 = 7 kronor. We have to multiply the entire equation by 2. If we multiply this by 2, we get:

$2= 14 kronor

Therefore we have found that we would get $2 if we exchanged 14 kronor a the given exchange rate of $1 for every 7 kronor.

Learn more about exchange rates here- https://brainly.com/question/1622216

#SPJ2

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