Solve the problem. Round the point estimate to the nearest thousandth.
-364 randomly selected light bulbs were tested in a laboratory, 124 lasted more than 500 hours. Find a point estimate of the proportion of all light bulbs that last more than 500 hours.
A) 0.254
B) 0.659
C) 0.338
D) 0.341

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Quizplus · Accepted Answer

The point estimate for the proportion is calculated by dividing the number of successes (light bulbs lasting more than 500 hours) by the total number of trials (light bulbs tested). So, 124/364 = 0.340659, which rounds to 0.341.

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