A random sample of 150 mortgages in the state of Mississippi was randomly selected. From this sample, 17 were found to be delinquent on their current payment. Using this sample, the point estimate for the proportion of delinquent mortgages in Mississippi is _________.
A)0.102
B)0.113
C)0.080
D)0.137

Question

Quizplus · Accepted Answer

The point estimate for the proportion of delinquent mortgages is calculated by dividing the number of delinquent mortgages by the total number of mortgages in the sample: 17/150 = 0.113.

A Random Sample of 150 Mortgages in the State of Mississippi