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In 2010. a survey of 400 homes in a region found that 200 had overestimated market values.
In 2010. a survey of 400 homes in a region found that 200 had overestimated market values. Suppose you want to estimate "pi", the population proportion of homes in this region with market values that are overestimated.
a. Find p, the point estimate of t.
b. Describe the distribution used to find the critical value.
c. Find a 95% confidence interval for it.
d. Give a practical interpretation of the confidence interval from part c.
e. Suppose a researcher claims that a=0.37. Is the claim believable? Explain.