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A cellphone provider has the business objective of wanting to estimate the proportion of subscribers who...

A cellphone provider has the business objective of wanting to estimate the proportion of subscribers who would upgrade to a new cellphone with improved features if it were made available at a substantially reduced cost. Data are collected from a random sample of 500 subscribers. The results indicate that 160 of the subscribers would upgrade to a new cellphone at a reduced cost. Complete parts​ (a) and​ (b) below. a.

Construct a 99​% confidence interval estimate for the population proportion of subscribers that would upgrade to a new cellphone at a reduced cost.

Math   Statistics-And-Probability   
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Answer #1

The confidence interval for Population proportion is

Where

And

ME=critical value*Standard error

Where

Critical value is Table value at 0.05 level of significance

Standard error=

Calculation

The critical value at 99% confidence is 2.576

ME=2.576*0.0209=0.0538

The 99% confidence interval is given by

(0.266 , 0.374)

The 99% Confidence Interval for Population proportion of subscribers that would upgrade to a new cellphone at a reduced cost is (0.266 , 0.374)

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