Question

A recent poll of 1800 people showed that 35% believe gas prices will go down. Find the best point estimate of the proportion of all people who believe gas prices will go down.

a 0.30
b 0.35
c 0.65
d 35

Answer 1

The sample proportion is a point estimate of the population proportion. Therefore we need to convert the given percentage to a decimal fraction to find the best point estimate.
35/100 = 0.35
The best point estimate is 0.35.

Answer 2

Answer: Option 'b' is correct.

Explanation:

Since we have given that

Number of people showed in a recent poll = 1800

Percentage of people believe gas prices will go down = 35%

So, best point estimate of the proportion of all people who believe gas prices will go down is given by

`(35)/(100)\\\\=0.35`

and Number of people who believe gas prices will go down is given by

`0.35* 1800\\\\=630`

Hence, Option 'b' is correct.