5.4 unexpected expense. in a random sample 765 adults in the united states, 322 say they could not cover a $400 unexpected expense without borrowing money or going into debt.(a) what population is under consideration in the data set? (b) what parameter is being estimated? (c) what is the point estimate for the parameter?

Answer : (a) All adults in the United States.

(b)The proportion (p) of people who could not cover a $400 unexpected expense without borrowing money or going into debt.

(c) 0.421

Step-by-step explanation:

In a random sample 765 adults in the United States, 322 say they could not cover a $400 unexpected expense without borrowing money or going into debt.

Since , sample is of 765 adults in the United States.

So , the population of interest is "all adults in United states".

Since , out of 765 adults in the United States, 322 say they could not cover a $400 unexpected expense without borrowing money or going into debt.

⇒ The parameter is the population proportion (p) of people who could not cover a $400 unexpected expense without borrowing money or going into debt.

Sample proportion of say they could not cover a $400 unexpected expense without borrowing money or going into debt. : .

Since the sample proportion is the best point-estimate of the population proportion.

Therefore , the point estimate for the parameter is 0.421.