Solve the problem. Round the point estimate to the nearest thousandth.
-32 randomly picked people were asked if they rented or owned their own home, 8 said they rented. Obtain a point estimate of the proportion of home owners.
A) 0.200
B) 0.781
C) 0.250
D) 0.750

Question

Quizplus · Accepted Answer

The point estimate of the proportion of home owners can be obtained by subtracting the number of renters (8) from the total sample (32) and dividing by the total sample. Thus, the point estimate is (32-8)/32 = 0.75, which rounded to the nearest thousandth is 0.750. Therefore, the best choice is D.

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