out of 500 people sampled, 380 preferred candidate a. round to three decimals. based on this estimate, what…

Explanation:

Step1: Calculate the sample proportion

The sample proportion $\hat{p}=\frac{x}{n}$, where $x = 380$ (number of people who preferred Candidate A) and $n=500$ (sample size). So $\hat{p}=\frac{380}{500}=0.760$.

Step2: Calculate the standard - error for proportion

The formula for the standard - error of a proportion is $SE=\sqrt{\frac{\hat{p}(1 - \hat{p})}{n}}$. Substitute $\hat{p}=0.760$ and $n = 500$ into the formula: $SE=\sqrt{\frac{0.760\times(1 - 0.760)}{500}}=\sqrt{\frac{0.760\times0.240}{500}}=\sqrt{\frac{0.1824}{500}}=\sqrt{0.0003648}\approx0.019$.

Step3: Find the z - value for 95% confidence interval

For a 95% confidence interval, the z - value $z = 1.96$.

Step4: Calculate the lower and upper bounds of the confidence interval

The lower bound $LB=\hat{p}-z\times SE=0.760-1.96\times0.019 = 0.760 - 0.03724\approx0.723$. The upper bound $UB=\hat{p}+z\times SE=0.760 + 1.96\times0.019=0.760+0.03724\approx0.797$.

Answer:

The proportion of the voting population that prefers Candidate A is $0.760$. The 95% confidence interval is $0.723 < p < 0.797$.