Question

An analysis of 99 Wall Street traders showed that 32 of their stock picks beat the market average. What is the estimate of the population proportion

Answer 1

The estimate of the population proportion is 0.3232.

Explanation:

Estimate of the population proportion:

The estimate is the sample proportion, which is the number of desired outcomes divided by the number of total outcomes.

In this question:

32 out of 99, so:

`p = (32)/(99) = 0.3232`

The estimate of the population proportion is 0.3232.