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MATH 1281 - Unit 1 Assignment

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177 views4 pages

MATH 1281 - Unit 1 Assignment

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PART I

1. Population in the Survey: The population in this survey refers to all families in the

Dominican Republic.

2. Population Parameter Estimated: The population parameter estimated in this survey is

the proportion of families in the Dominican Republic who cannot afford $300 unexpected

expenses without tapping into loans which was 232.

3. Point Estimate for the Parameter: The point estimate for the parameter is the

proportion of the sample that responded they could not afford $300 unexpected expenses

without tapping into loans. In this case, it is:

232
=0. 3437≈ 34.37%
675

∴ the sampler error is 0.3437∨34.37 % approximately

4. Statistic Used to Measure Uncertainty: The statistic used to measure the uncertainty of

the point estimate is the sample error of the proportion (Diez, et al., 2019). The formula

for the sample error of a proportion is:

𝑆𝐸=√
p (1− p)
n
=
√
0.3437 ( 1−0.3437 )
675
≈ 0.018 28

where p is the sample proportion (0.3437 in this case) and 𝑛 is the sample size (675 in

this case). So, the sample error is approximately 0.0183.

5. Impact of True Population Value (40%): If the true population value is 40%, using (p =

0.4) to recompute the SE:


SE = √
p (1− p)
n
=
√
0.4 (1−0.4 )
675
=0.01885

Comparing the two sample errors, the change is minimal, indicating that the resulting

value of the statistic in (4) is robust and would not change significantly if the true

population value were 40% instead of the estimated 34.37%.

PART II

Constructing a 95% Confidence Interval: To construct a 95% confidence interval for the

fraction of viewers who made a visit because of a coupon, we can use the formula:

Confidence Interval (CI)=Point Estimate (p) ± 𝑍(Z_score) × 𝑆𝐸 (Diez, et al., 2019).

Where:

 Point Estimate (p) =

Number of viewers who made a visit because of a couponTotal number of viewers

124
≈ 0.2460≈ 24.6 %
504

 𝑍(Z_score) value for a 95% confidence interval is approximately 1.96 (for a large

sample size)

 SE (Standard Error) is calculated as:

SE= √
p (1− p)
n
=
√0.246 ( 1−0.246 )
504
≈ 0.019184 ≈ 1.92%

Plugging in the values into the confidence interval formula:

Confidence Interval = 0.246 ± (1.96 × 0.019184)

Confidence Interval = 0.246 ± 0.0376


Confidence Interval = 0.246 – 0.0376 ≈ 0.2084

Confidence Interval = 0.246 + 0.0376 ≈ 0.2836

Confidence Interval= (0.208, 0.284)

So, with 95% confidence, we estimate that the true fraction of viewers who made

a visit because of a coupon lies between 20.8% and 28.4%.


References

Diez, D., Cetinkaya-Rundel, M., Barr C. D., & Barr, C. D. (2019). OpenIntro statistics - Fourth

edition. Open Textbook Library.

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