Please help!
In a simple random sample of 298 students at a college, 87 reported that they have at least $1000 of credit card debt. What is the 99% confidence interval for the percent of all the students at that college who have at least $1000 in credit card debt?
(Points : 3)
(26.5, 31.9)
(24.8, 33.6)
(22.4, 36.0)
(21.8, 36.6)

Question

Please help!
 In a simple random sample of 298 students at a college, 87 reported that they have at least $1000 of credit card debt. What is the 99% confidence interval for the percent of all the students at that college who have at least $1000 in credit card debt?
(Points : 3)
       (26.5, 31.9)
       (24.8, 33.6)
       (22.4, 36.0)
       (21.8, 36.6)

amistre64 · Answer

so what should we use as our sample mean?

anonymous · Answer

87?

amistre64 · Answer

hmm, let try 87 out of 298, and i should prolly use the term sample proportion

amistre64 · Answer

87/298=.2919,  or 29.19% for the sample porportion/mean

amistre64 · Answer

what can we use as a standard deviation?

anonymous · Answer

298, right?

amistre64 · Answer

from the given sample, 87 out of the 298 is the proportion that the question is asking us about.  we use this as our reference point to build the confidence interval around