Exhibit 22-4
Simple random sampling has been used to obtain a sample of size 50 from a population of size 500. The sample proportion was 0.7.
-Refer to Exhibit 22-4. The estimate of the standard error of proportion is
A)0.210
B)0.700
C)0.300
D)0.062

Question

Quizplus · Accepted Answer

The standard error of proportion can be estimated using the formula √(p(1-p)/n), where p is the sample proportion and n is the sample size. Plugging in the values given in the question, we get √(0.7(1-0.7)/50) = 0.062. Therefore, the answer is D.

Exhibit 22-4 Simple Random Sampling Has Been Used to Obtain a Sample