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Question: In a random sample of 2,300 mortgages taken out in a certain region last year, 187 were adjustable-rate mortgages.

a. Give a point estimate of the proportion of all mortgages taken out in this region last year that were adjustable-rate mortgages.

b. Assuming that the sample is sufficiently large, construct a 99.9% confidence interval for the proportion of all mortgages taken out in this region last year that were adjustable-rate mortgages.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92641847

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