The z-score associated with 98% is 2.33. If the sample p-hat is 0.60 and the standard deviation is 0.02, find the lower limit of the 98% confidence interval.
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Hence the value of lower limit of 98% confidence interval is 0.55
Step-by-step explanation:
Given data:
- z₀.₀₁ = 2.33
- p = 0.60
- SD = 0.02
Solution:
The lower limit of the 98% confidence interval for population proportion is:
L= p-z (0.01) x SD
= 0.60 - (2.33 x 0.02)
= 0.5534 ~ 0.55
Hence the value of lower limit of 98% confidence interval is 0.55
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