A report on consumer financial literacy summarized data from a representative sample of 2,002 adult
Americans. When asked if they typically carry credit card debt from month to month, 844 of these people
responded "yes.

(a) Use the given information to estimate the proportion of adult Americans who carry credit card debt
from month to month. (Round your answer to three decimal places.)

(b) Verify that the conditions needed in order for the margin of error formula to be appropriate are met.
The condition that the sample is a random sample from the population of interest or the sample is
selected in a way that should result in a representative sample is ______ . The condition
that the sample size is large is _________

(c) Calculate the margin of error. (Round your answer to three decimal places.)

(d) Interpret the margin of error in the context of this problem.

It is likely that the estimated proportion of adult Americans who carry credit card debt from
month to month differs from the true population proportion by the value calculated in part
(c).
It is unlikely that the estimated proportion of adult Americans who carry credit card debt
from month to month differs from the true population proportion by less than the value
calculated in part (c).
It is impossible that the estimated proportion of adult Americans who carry credit card debt
from month to month differs from the true population proportion by more than the value
calculated in part (c).
It is impossible that the estimated proportion of adult Americans who carry credit card debt
from month to month differs from the true population proportion by less than the value
calculated in part (c).
It is unlikely that the estimated proportion of adult Americans who carry credit card debt
from month to month differs from the true population proportion by more than the value
calculated in part (c).