Answer and Step-by-step explanation:
given:
Sample size is: n =5000
The sample proportion is: Ṗ = 2739 / 5000 = 54.78%
And the critical value of z for 99% confidence interval is
Z = 2.58
For a 99 % confidence interval we use formula:
Ṗ ± z√(Ṗ(1- Ṗ)/n)
By putting the given values in this formula:
0.54 ± 2.58√(0.54(1-0.54)/5000)
= 0.54 ± 0.018
This gives us upper confidence limit of
0.54 + 0.018 =0.558 = 0.54%
This gives us lower confidence limit of
o.54 – 0.018 = 0.522 = 0.53%