Has Gold Lost its Luster In 2011, when the Gallup organization polled investors, 34 rated gold the best long term investment However, in April of 2013 Gallup surveyed a random sample of U S adults Respondents were asked to select the best long term investment from a list of possibilities Only 241 of the 1005 respondents chose gold as the best long term investment Compute the standard error of the sample proportion Compute and describe a 95 confidence interval in the context of the case Do you think opinions about the value of gold as a long term investment have really changed from the old 34 favorable rate, or do you think this is a sample variability Explain your answer using the calculated statistics

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Question: Has Gold Lost its Luster? In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. However, in April of 2013

Has Gold Lost its Luster?

In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. However, in April of 2013 Gallup surveyed a random sample of U.S. adults. Respondents were asked to select the best long-term investment from a list of possibilities. Only 241 of the 1005 respondents chose gold as the best long-term investment.

Compute the standard error of the sample proportion.
Compute and describe a 95% confidence interval in the context of the case.
Do you think opinions about the value of gold as a long-term investment have really changed from the old 34% favorable rate, or do you think this is a sample variability? Explain your answer using the calculated statistics.

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