A Florida neighborhood is comprised of 250 houses of which 12% are in foreclosure. A random sample of 91 homes from this neighborhood was selected. The standard error of the proportion is --------.

Question

Quizplus · Accepted Answer

The standard error of the proportion is calculated using the formula SE = sqrt[(p(1-p))/n], where p is the sample proportion and n is the sample size. Here, p = 0.12 and n = 91, so SE = sqrt[(0.12(1-0.12))/91] = 0.0341.

A Florida Neighborhood Is Comprised of 250 Houses of Which