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The Quick Method

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The Quick Method: The quick method uses "p-hat +/- (1/?n)" as a rough recipe for a 95% confidence interval for a population proportion. The margin of error from the quick method is a bit larger than needed. It differs most from the more accurate method when p-hat is close to 0 or 1. An SRS of 500 motorcycle registrations finds that 68 of the motorcycles are Harley-Davidsons. Give a 95% confidence interval for the proportion of all motorcycles that are Harleys by the quick method and then by the method "p-hat +/- 2?{[p-hat(p-hat - 1)]/n}". How much larger is the quick method margin of error?

P-hat: Number that describes a sample. The value of a statistic is known when we have taken a sample, but it can change from sample to sample. We often use a statistic to estimate an unknown parameter.
n= Sample size.

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Solution Summary

The quick method is examined for population proportion.