Exhibit 8.4.According to a report in USA Today (February 1,2012),more and more parents are helping their young adult children get homes.Suppose 8 persons in a random sample of 40 young adults who recently purchased a home in Kentucky got help from their parents.You have been asked to construct a 95% confidence interval for the population proportion of all young adults in Kentucky who got help from their parents. Refer to Exhibit 8.4.What is the margin of error for a 95% confidence interval for the population proportion?
A)1.645(0.0040)
B)1.645(0.0632)
C)1.96(0.0040)
D)1.96(0.0632)

Question

Quizplus · Accepted Answer

The margin of error for a 95% confidence interval for a population proportion is calculated using the formula: z * sqrt(p(1-p)/n). Here, z is 1.96 for a 95% confidence level, p is the sample proportion (8/40 = 0.2), and n is the sample size (40). The correct choice uses 1.96 and the correct standard error calculation.

Exhibit 84