Question

In a survey of 500 small software companies, 150 of them indicated that they would be...

In a survey of 500 small software companies, 150 of them indicated that they would be moving their businesses to one of the Techno parks over the next three months.

  1. Estimate the value of the population proportion. (Round your answers to 3 decimal places.)
  1. Develop a 95% confidence interval for the population proportion. (Round your answers to 3 decimal places.)
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Answer #1

In a sample of 500 small software companies, 150 of them indicated that they would be moving their businesses to one of the Techno Parks over the next three months.

Question a

We knnow that sample proportion is a good estimate of the population proportion.

So, the estimated value of population proportion is

So, the answer is 0.3.

Question b

We have to develop a 95% confidence interval for the population proportion.

Now, we know that here, p=0.3.

Now, the 95% confidence interval is given by

So, the 95% confidence interval for the population proportion is (0.260,0.340).

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