BUSINESS STATISTICS

(a) Use Excel to produce a Descriptive Statistics table for the brick veneer properties in your samplesuitable for constructing an interval estimate of the population proportion of brick veneer properties. Hence determine:

(i) A point estimate of the proportion of brick veneer properties in the population.

(ii) A 99% confidence interval estimate of the proportion of brick veneer properties in the population.

(b) Make a brief verbal statement explaining the meaning of the confidence interval estimate obtained in (a) in the context of the variable in this task.

(c) If the population proportion of brick veneer properties is actually 42%, would you consider the interval estimate obtained in (a), to be satisfactory? Explain why or why not

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