33 randomly picked people were asked if they rented or owned their own home, 15 said they rented. Obtain a point estimate of the proportion of home owners.
A) 0.576
B) 0.455
C) 0.313
D) 0.545

Question

Quizplus · Accepted Answer

The point estimate of the proportion of homeowners is calculated by subtracting the proportion of renters from 1. Since 15 out of 33 people rent, the proportion of renters is 15/33 = 0.455. Therefore, the proportion of homeowners is 1 - 0.455 = 0.545.

33 Randomly Picked People Were Asked If They Rented or Owned