## Related questions with answers

The American Association of Individual Investors (AAII) polls its subscribers on a weekly basis to determine the number who are bullish, bearish, or neutral on the short-term prospects for the stock market. Their findings for the week ending March 2, 2006, are consistent with the following sample results (AAII website, March 7, 2006).

$\text{Bullish} ~~ 409 ~~~~~~~\text{Neutral} ~~ 299~~~~~~~ \text{Bearish}~~ 291$

Develop a point estimate of the following population parameters.

The proportion of all AAII subscribers who are bearish on the stock market.

Solution

VerifiedGiven:

- $x$ = Number of successes = 291
- $n$ = Sample size = 409 + 299 + 291 = 999

In this exercise, we are interested in the point estimate of the population proportion $p$.

*What is the point estimate of the population proportion $p$? How can it be calculated?*

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