8
Of the 36 accounts drawn randomly from a very large number of accounts in a certain bank, 12 had a deposit of less than
Rs. 1500. The estimated standard error for the estimate of the proportion of accounts having a deposit of less than Rs. 1500
is
EXPLANATION
Applied Statistical Methods
- Standard Error of Estimated Proportion:
- Sample size: $n = 36$
- Number of accounts with deposit < Rs. 1500: $x = 12$
- Sample proportion: $p = \frac{x}{n} = \frac{12}{36} = \frac{1}{3}$, and $q = 1 - p = \frac{2}{3}$
- In simple random sampling from a very large population, the unbiased estimator of the variance of the sample proportion is:
- The estimated standard error ($SE$) is the square root of the variance:
- Conclusion: The estimated standard error is $\sqrt{\frac{2}{315}}$ (Option 4).
Correct option: (4) on
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