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More online sales Refer to Exercise 35. Calculate and interpret the standard error ofp^=xn for these data.

Short Answer

Expert verified

The value of standard error is0.0059.

Step by step solution

01

Given Information

It is given that:

n=4579

x=914

02

Concept Used

Formula to be used isSEp^=p^(1-p^)n

03

Simplification

Sample proportion is calculated as p^=xn

=9144579=0.1996

Hence, standard error is SEp^=p^(1-p^)n

SEp^=0.1996(1-0.1996)4579

SEp^=0.0059

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