Question

"In 2014, Vertex Pharmaceuticals, a biotechnology company, issued a press release announcing that it had filed an application with the Food and Drug administration to begin production of an experimental drug. Out of a sample of 4200 adults, 2520 expressed support for the drug. Calculate the point estimate for p (the proportion of adults supporting the drug) and q (the proportion against it)."

Answer 1

The point estimate for p (the proportion of adults supporting the drug) is 0.6, and the point estimate for q (the proportion against it) is 0.4.

Step-by-step explanation:

To calculate the point estimate for p, the proportion of adults supporting the drug, we divide the number of adults who expressed support (2520) by the total sample size (4200):

p = 2520 / 4200 = 0.6

To calculate the point estimate for q, the proportion against the drug, we subtract the point estimate for p from 1:

q = 1 - p = 1 - 0.6 = 0.4