An investment counselor has purchased a large mailing list consisting of 50,000 potential investors. Before creating a brochure to send to members of the list, the counselor mails a questionnaire to a small simple random sampling of them. In one of the questions, the respondent is asked, “Do I think of myself as someone who enjoys taking risks?” The response codes are (1) “Yes” and (2) “No.” The results for the 200 investors who answered this question are represented by the codes listed in data file XR09057. Based on this sample, construct and interpret the 99% confidence interval for the population proportion of investors on the counselor’s mailing list who think of themselves as someone who enjoys taking risks.
A computer and statistical software.