In a sample of 600 potential car buyers, 376 indicated that they would consider purchasing a hybrid gas/electric-powered car. What is the point estimate for the proportion of po…

Question

asked Apr 12, 2021 71.3k views

1 Answer

Francesquini · Answer 1 · 2021-04-18T04:25:43+0000

Answer:

The point estimate for the proportion of potential car buyers that would consider buying a hybrid vehicle is 0.63.

Explanation:

We are given that in a sample of 600 potential car buyers, 376 indicated that they would consider purchasing a hybrid gas/electric-powered car.

The point estimate for the proportion of potential car buyers that would consider buying a hybrid vehicle is represented by =
$\hat p$

where,
$\hat p=(X)/(n)$

Here X = Number of car buyers who indicated that they would consider purchasing a hybrid gas/electric-powered car = 376

n = Total number of sample of car buyers = 600

So, point estimate,
$\hat p=(X)/(n)$

=
(376)/(600) = 0.63

Hence, the point estimate for the proportion of potential car buyers that would consider buying a hybrid vehicle is 0.63.