In a random sample of 508 judges, it was found that 281 were introverts. Let p represent the proportion of all judges who are introverts. Find a point estimate for p. Round your answer to four decimal places. I am needing assitance in trying to figure out the correct formula for this given problem, please help
0.746
0.746 wrong
p: 0.5531
In a random sample of 508 judges, it was found that 277 were introverts.
Let p represent the proportion of all judges who are introverts. Find a point estimate for p. (Round your answer to four decimal places.)
The point estimate for p is the proportion of introverts in the sample:
p̂ = 277/508 = 0.5449
Rounding to four decimal places, the point estimate is 0.5449.
To find a point estimate for the proportion p of all judges who are introverts, we can use the formula:
Point estimate = Number of introverts in the sample / Sample size
In this case, the number of introverts in the sample is 281, and the sample size is 508.
Therefore, the point estimate for p is:
Point estimate = 281 / 508 = 0.5528 (rounded to four decimal places)
So, the point estimate for the proportion of all judges who are introverts is approximately 0.5528.