In 2017, 42.54% of the nearly 2.7 million reports taken nationwide by the Federal Trade Commissions Consumer
Question:
In 2017, 42.54% of the nearly 2.7 million reports taken nationwide by the Federal Trade Commission’s Consumer Sentinel Network dealt with instances of fraud. Consider results of a random sample of 42,296 of the reports taken by the Consumer Sentinel Network from Florida that are provided the file FloridaFraud.
a. What is the sample proportion of reports filed from Florida that dealt with instances of fraud?
b. Using 95% confidence, what is the margin of error?
c. Using the results from parts (a) and (b), develop the 95% confidence interval estimate of the proportion reports filed from Florida that dealt with instances of fraud. What do you conclude about Florida from these results?
Step by Step Answer:
Statistics For Business & Economics
ISBN: 9781337901062
14th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran