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The First National Bank of Wilson has 660 checking account customers. A recent sample of 60...

The First National Bank of Wilson has 660 checking account customers. A recent sample of 60 of these customers showed 35 have a Visa card with the bank. Construct the 99% confidence interval for the proportion of checking account customers who have a Visa card with the bank. (Use z Distribution Table.) (Round your answers to 3 decimal places.)

Confidence interval for the proportion is between and
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Answer #1

Sample proportion = 35 / 60 = 0.583

99% confidence interval for p is

- Z/2 * sqrt [ ( 1 - ) / n ] < p < + Z/2 * sqrt [ ( 1 - ) / n ]

0.583 - 2.576 * sqrt [ 0.583 ( 1 - 0.583) / 60 ]  < p < 0.583 + 2.576 * sqrt [ 0.583 ( 1 - 0.583) / 60 ]

0.419 < p < 0.747

99% CI is between 0.419 and 0.747 ​​​​​​​

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