Final answer:
The best point estimate for p is 0.42. The margin of error for a 95% confidence interval is 0.042.
Step-by-step explanation:
To determine the best point estimate for p, we divide the number of people who had kids (252) by the total number of people sampled (600). So, the point estimate for p is 252/600 = 0.42.
The margin of error for a 95% confidence interval can be calculated using the formula:
ME = z * sqrt((p * (1-p)) / n)
Where z is the z-score corresponding to the desired confidence level, p is the point estimate, and n is the sample size. Since the sample size is 600, we can use a z-score of 1.96 for a 95% confidence level. Plugging in the values, we get:
ME = 1.96 * sqrt((0.42 * (1-0.42)) / 600) = 0.042
Therefore, the margin of error for a 95% confidence interval is 0.042.