Do you think that the government should bail out the automobile industry? Suppose that this question was asked in a recent survey of 460 Americans. Respondents were also asked to select the category corresponding to their age (younger than 30; 30 to 50; or older than 50). It was found that 140 respondents were younger than 30; and 120 respondents were over 50 years old. From the respondents who were younger than 30 years of age, 60 were in favor of the bailout and 30 were undecided. From the respondents who were older than 50 years of age, two-thirds of these respondents were opposed to the bailout; the remaining were in favor; from the age group of 30 to 50, 60% of the respondents were opposed; 25% in favor; and the remainder were undecided.
a. Estimate the proportion of all Americans who are opposed to the bailout using a 95% confidence level.
b. Estimate the proportion of all Americans who are in favor of the bailout using a 90% confidence level.