Question

A market researcher wants to estimate the unknown proportion of Americans who use foreign cars. On the basis of a sample 75 residents in a big residential area, it appears that the point estimate of the proportion of residents with a foreign car is 0.45. An estimate of the standard error of this point estimate is 0.05745 0.00330 0.11260

Answer 1

Answer:

0.05745

Step-by-step explanation:

We are given the following:

Point estimate of proportion of residents with foreign car or the sample proportion, p' = 0.45

Number of residents or sample space, n = 75

We have the standard error formula given as $\sqrt{p'(1 - p')/n}$

Substituting the values,

standard error = $\sqrt{0.45(1 - 0.45)/75}$

Hence, standard error = 0.05745