Question

	Country Burkina Faso Ethiopia Myanmar Ghana Kenya India Nicaragua Tunisia Guatemala Algeria Ecuador Peru Colombia Lebanon China Brazil Mexico Turkey Argentina Venezuela, RB Greece Portugal Malta Spain Italy Israel Japan France New Zealand United Arab Emirates Belgium United Kingdom Canada Germany Finland Austria Netherlands Ireland Australia Sweden United States Denmark Iceland Luxembourg Switzerland Norway	Average Income 640 660 1190 1380 1380 1680 2050 3690 3790 4270 5820 5950 6320 7680 8260 8840 9040 11180 11960 12500 18960 19850 24140 27520 31590 36190 38000 38950 39070 40480 41860 42390 43660 43660 44730 45230 46310 52560 54420 54630 56180 56730 56990 76660 81240 82330

In 2016, the global average annual income worldwide was estimated to be $10,850[1]. (This includes all countries of the world, not just the countries in the data table.) [1] Source: Organization for Economic Co-operation and Development (OECD)
In this task, you construct a 95% confidence interval to estimate the proportion of countries in the world with an average income greater than the global average.

1. Determine the proportion of countries in the data set that have an average income greater than the global average. Use the appropriate symbol for your point estimate. Round your answer to the nearest thousandth.

2. calculate a 95% confidence interval for the proportion of countries in the world with an average income greater than the global average income level. Round your answer to the nearest thousandth.

3. Describe what requirements must be met for this interval to be valid and whether you think this data set meets these requirements.

4. Using a complete sentence, interpret the meaning of the confidence interval using the context of the problem.

Answer 1