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In a study on the retirement savings plans of young Canadians, a sample of 400 Canadians
between the ages of 25 and 34 revealed that only 14 made regular personal contributions to an
RRSP. Based on this result, construct a 99% confidence interval for the true proportion of young
Canadians (aged 25-34) who make regular personal contributions to an RRSP. (3 marks)

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  • 1. In a study on the retirement savings plans of young Canadians, a sample of 400 Canadians between the ages of 25 and 34 revealed that only 14 made regular personal contributions to an RRSP. Based on this result, construct a 99% confidence interval for the true proportion of young Canadians (aged 25-34) who make regular personal contributions to an RRSP. (3 marks)