In a small town there are 30,000 residents and 10,000 of them own pets. A pet store wants to estimate the proportion of residents in the town which own pets. They collect a simple random sample of 100 residents and 35 of them say that they own pets. Use this information to answer the following questions.
a. Population and sample size?
b. Population and sample proportion?
c. Based on their sample, what is the pet store’s best guess about the number of residents in the town that own pets?
d. Based on the sample, what is the margin of error for a 95% confidence interval for the population proportion of residents in the town that own pets?
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