Problem: A study of the electromechanical protection devices used in electrical power systems showed that of 193 devices that failed when tested, 75 were due to mechanical parts failures.
Required:
Question 1: Find a point estimate for p, the proportion of failures that are due to mechanical failures.
Question 2: Find a 95% confidence interval on p, give two answers, first assuming no prior estimate is available and secondly, using the sample proportion as an available estimate of p.
Question 3: How large a sample is required to estimate p to within 0.03 with 95% confidence?