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%..