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If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is?
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If a random sample of 500 oranges produces 25 rotten oranges,then the ...
Calculating Standard Error of Proportion
To calculate the standard error of proportion, we need to use the formula:
Standard error of proportion = square root of [(p*q) / n]
Where p is the proportion of rotten oranges in the sample, q is the proportion of good oranges in the sample, and n is the sample size.
Finding the Proportions
To find p and q, we need to divide the number of rotten and good oranges by the sample size:
p = 25/500 = 0.05
q = 1 - p = 0.95
Plugging into the Formula
Now we can plug these values into the formula:
Standard error of proportion = square root of [(0.05*0.95) / 500]
= 0.019
So the estimate of the standard error of the proportion of rotten oranges in the sample is 0.019.
Interpreting the Result
This means that if we were to take multiple random samples of the same size, the proportion of rotten oranges would vary by about 1.9 percentage points from sample to sample. The smaller the standard error, the more precise our estimate of the population proportion would be.
To calculate the standard error of proportion, we need to use the formula:
Standard error of proportion = square root of [(p*q) / n]
Where p is the proportion of rotten oranges in the sample, q is the proportion of good oranges in the sample, and n is the sample size.
Finding the Proportions
To find p and q, we need to divide the number of rotten and good oranges by the sample size:
p = 25/500 = 0.05
q = 1 - p = 0.95
Plugging into the Formula
Now we can plug these values into the formula:
Standard error of proportion = square root of [(0.05*0.95) / 500]
= 0.019
So the estimate of the standard error of the proportion of rotten oranges in the sample is 0.019.
Interpreting the Result
This means that if we were to take multiple random samples of the same size, the proportion of rotten oranges would vary by about 1.9 percentage points from sample to sample. The smaller the standard error, the more precise our estimate of the population proportion would be.
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If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is?
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If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is?.
If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a random sample of 500 oranges produces 25 rotten oranges,then the estimate of standard error of the proportion of rotten arranges in the sample is?.
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