You wish to estimate a population proportion with a confidence interval with a margin of error no larger than 0.03. You have a budget of $5000 for collecting sample data with which to determine the interval estimate. Collection c sample data in similar situations has cost $10 per item. A plot sample yielded a sample proportion of 0.75. Using the largest possible sample (given the budget) and p^dot = 0.75, the confidence level that you can have in your estimate is: 0.9394. 0.4394. 0.8788. 0.1212.
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Home » Mathematics » You wish to estimate a population proportion with a confidence interval with a margin of error no larger than 0.03. You have a budget of $5000 for collecting sample data with which to determine the interval estimate.