Suppose a random sample of 5790 physicians in Colorado showed that 3141 provided at least some charity care. Let p represent the proportion of all Colorado physicians who provide some charity care. Find a point estimate for p. Round your answer to four decimal places.
p = 3141/5790 = ?
To find a point estimate for p, we need to calculate the proportion of physicians in the random sample who provide some charity care.
The point estimate for p can be calculated using the following formula:
Point estimate (p̂) = Number of physicians providing some charity care / Total number of physicians in the sample
In this case, the number of physicians providing some charity care is given as 3141, and the total number of physicians in the sample is given as 5790.
Therefore, the point estimate (p̂) can be calculated as follows:
p̂ = 3141 / 5790 = 0.5421 (rounded to four decimal places)
So, the point estimate for p is 0.5421.