Here are the essential concepts you must grasp in order to answer the question correctly.
Population Proportion
The population proportion, denoted as p, represents the fraction of a population that possesses a certain characteristic. In this context, it refers to the proportion of U.S. adults who have experienced impersonation for tax fraud. Understanding this concept is crucial for estimating how widespread the issue is within the entire population based on survey data.
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Point Estimate
A point estimate is a single value derived from sample data that serves as a best guess for a population parameter. In this case, p^ (p-hat) is the point estimate of the population proportion p, calculated by dividing the number of individuals with the characteristic (62) by the total sample size (1040). This estimate provides a quick snapshot of the population's behavior regarding tax fraud.
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Complement of the Population Proportion
The complement of the population proportion, denoted as q, represents the proportion of the population that does not have the characteristic in question. It is calculated as q = 1 - p. In the context of the survey, q would indicate the proportion of U.S. adults who have not experienced impersonation for tax fraud, providing a complete view of the situation.
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