Mathematics, 07.04.2020 22:57, sullivanjakob
In a recent poll of 1,200 homeowners in the United States, one in five homeowners reports having a home equity loan that he or she is currently paying off. Using a confidence coefficient of 0.99, derive the interval estimate for the proportion of all homeowners in the United States that hold a home equity loan.
Answers: 2
= 240 homeowners reports having a home equity loan.
= 
= 0.2
= 1 - confidence coefficient = 1 - 0.99 = .01
= 2.58
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