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Question

In a recent poll of 760760 homeowners in the United States, one in five homeowners reports having a home equity loan that he or she is currently paying off. Using a confidence coefficient of 0.900.90, derive the interval estimate for the proportion of all homeowners in the United States that hold a home equity loan.

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Answered 8 months ago
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Observing the given exercise, we obtained the following data

  • sample size (n)(n) = 760760 homeowners in the United States who participated in the survey
  • 20%20 \% of them (every fifth owner) has an equity loan that they are currently repaying.

We need to construct the 90%90\% for the proportion of all homeowners in the The United States that holds a home equity loan.

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