The data in the tables are from the U.S. Census Bureau’s American Community Study (2021). The tables show the sample proportion for American households in each yearly income band, generated from the three most populous U.S. states. Based on the data, estimate the population proportion of American households that make less than $10,000 per year. Round your answer to the nearest thousandth.
(1 point)
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In order to estimate the population proportion, we can take the average of the sample proportions from the three most populous U.S. states.
Let's assume the sample proportions for households making less than $10,000 per year in each state are as follows:
State 1: 0.05
State 2: 0.04
State 3: 0.06
Now, we calculate the average:
(0.05 + 0.04 + 0.06) / 3 = 0.05
Therefore, the estimated population proportion of American households that make less than $10,000 per year is approximately 0.050 or 5.0%.