Subscribe to our Rss Feed

statistics homework Please help me!?



Filed under : finance

Undecided Question

Statistics homework Please help me!?

I'm confused. An auto insurance company checks police records on 561 accidents slected at random and notes that teenagers were at the wheel in 81 of them.

Construct the 95% confidence interval for the percentage of all auto accidents that involve teenage drivers.
95% CI=(_ %,_ %)
How do I figure this out?

One Response to “statistics homework Please help me!?”

  1. Vanessa Hudgens says:

    Ref: http://en.wikipedia.org/wiki/Binomial_pr…Positives Q=81 out of sample N=561, so estimate p=14.4%95% confidence interval spans the 2.5% to the 97.5% range.From a normal probability table, these would correspond toZ=+/-1.960 times sigma points.Therefore from the Wiki pageCI = p +/- Z*sqrt(p*(1-p)/N)= 0.144 +/- 1.960*sqrt((0.144)(1-0.144)/561)= 14.4% +/- 2.9% Source(s): http://en.wikipedia.org/wiki/Binomial_pr…

Leave a reply