We wish to estimate the proportion of students (who are currently attending a mid-sized college with an enrollment of about 5,000) with at least 3,000 in credit card debt. To do this, we select a random sample of 225 students and find that 42.763,000 in credit card debt with a standard deviation of 49.47%. We use the sample statistic and construct a 95% confidence interval of 36.3% to 49.2%..

Question

We wish to estimate the proportion of students (who are currently attending a mid-sized college with an enrollment of about 5,000) with at least 3,000 in credit card debt. To do this, we select a random sample of 225 students and find that 42.763,000 in credit card debt with a standard deviation of 49.47%.  We use the sample statistic and construct a 95% confidence interval of 36.3% to 49.2%..

cherrilyn · Answer

ere is an INCORRECT interpretation. EXPLAIN EXPLICITLY why you think that the interpretation is INCORRECT. 
We are 95% confident that the proportion of students with at least $3,000 in credit card debt for this sample is between 36.3% to 49.2%. 
If we choose one hundred random samples of size 225, in about 95 out of 100 cases the confidence interval computed will be between between 36.3% to 49.2%.