7.25: The following datarepresent the response (Y for yes and N for no) from a sample of 40 college students to the question “Do you currently own shares in any stocks?”
N N Y N N Y N Y N Y N N Y N Y Y N N N Y
N Y N N N N Y N N Y Y N N N Y N N Y N N
(a) Determine the sample proportion, p, of college students who own shares of stock.
(b) If the population is 0.30, determine the standard errorof the proportion.
The solution provides step by step method for the calculation of sample proportion and standard error of proportion. Formula for the calculation and Interpretations of the results are also included.