Calculating a confidence interval for the proportion, Basic Statistics

To study what fraction of houses for sale in Victoria has a finished basement, a researcher selected a random sample of 20 houses that were on the market. It was found that 11 of the houses surveyed did in fact have a finished basement.

(a) Using the random sample collected by the researcher, calculate a 95% confidence interval for the proportion of houses for sale in Victoria that have a finished basement.

(b) After calculating a confidence interval for the proportion of houses for sale in

Victoria that have a finished basement, the researcher felt that the obtained confidence interval was probably too wide to be of any practical use to realtors or potential buyers. So the researcher would like to collect a larger sample of houses for sale in order to get a better estimate. The desired confidence interval is still a 95% confidence interval, and the researcher can make use of the estimate for p from the initial sample in order to decide on what sample size to use. What sample size should now be collected in order to estimate the true proportion of houses for sale in Victoria that have a finished basement to within 0.05?

 

Posted Date: 4/6/2013 3:33:10 AM | Location : United States







Related Discussions:- Calculating a confidence interval for the proportion, Assignment Help, Ask Question on Calculating a confidence interval for the proportion, Get Answer, Expert's Help, Calculating a confidence interval for the proportion Discussions

Write discussion on Calculating a confidence interval for the proportion
Your posts are moderated
Related Questions
A study of a new anti-depressant drug took a sample of 10 individuals with high depression screening measures (DSM) and gave them the drug for three months.  At the end of the thre

16 people to line-up ( 12 boys 4 girls). in how many ways could they line-up with all 4 girls in last (anyorder)?

Inventory control Inventory Control is the guidance of provide, storage and convenience of items to ensure an adequate provide without excessive oversupply. It can also be known a

Derive the profit function P (p) and the supply function (or correspondence) y (p)for the following three Single-output technologies, whose production functions f (z) are:

customer behaviour in accounting felid of study

Accounting for inflation Inflation sales is a term reporting a range of sales systems designed to correct problems that comes from traditional cost sales in the use of inflation. I

What is the journal entry for starting and completing 1912 puzzles (in units)


discuss the steps in preparing product cost allocation.

Discuss about the scalling techniques