25. Payments. In a May 2007 Experian/Gallup PersonalCredit | StudySoup

Textbook Solutions for Stats: Modeling The World

Chapter 19 Problem 25

Question

25. Payments. In a May 2007 Experian/Gallup PersonalCredit Index poll of 1008 U.S. adults aged 18 and over,8% of respondents said they were very uncomfortablewith their ability to make their monthly payments ontheir current debt during the next three months. A moredetailed poll surveyed 1288 adults, reporting similaroverall results and also noting differences among fourage groups: 1829, 3049, 5064, and 65+.a) Do you expect the 95% confidence interval for the trueproportion of all 18- to 29-year-olds who are worriedto be wider or narrower than the 95% confidence intervalfor the true proportion of all U.S. consumers?Explain.b) Do you expect this second polls overall margin of errorto be larger or smaller than the Experian/Galluppolls? Explain.

Solution

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The first step in solving 19 problem number 25 trying to solve the problem we have to refer to the textbook question: 25. Payments. In a May 2007 Experian/Gallup PersonalCredit Index poll of 1008 U.S. adults aged 18 and over,8% of respondents said they were very uncomfortablewith their ability to make their monthly payments ontheir current debt during the next three months. A moredetailed poll surveyed 1288 adults, reporting similaroverall results and also noting differences among fourage groups: 1829, 3049, 5064, and 65+.a) Do you expect the 95% confidence interval for the trueproportion of all 18- to 29-year-olds who are worriedto be wider or narrower than the 95% confidence intervalfor the true proportion of all U.S. consumers?Explain.b) Do you expect this second polls overall margin of errorto be larger or smaller than the Experian/Galluppolls? Explain.
From the textbook chapter Confidence Intervals for Proportions you will find a few key concepts needed to solve this.

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full solution

Title Stats: Modeling The World  3 
Author David E. Bock
ISBN 9780131359581

25. Payments. In a May 2007 Experian/Gallup PersonalCredit

Chapter 19 textbook questions

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