Developing an estimate of proportion of fortune, Basic Statistics

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Developing an estimate of proportion of fortune

Assignment:

A sample of 50 Fortune 500 companies (Fortune, April 14, 2003) showed 5 were based inNew York, 6 in California, 2 in Minnesota, and 1 in Wisconsin.

Develop an estimate of the proportion of Fortune 500 companies based in New York.
Develop an estimate of the numberof Fortune 500 companies based in Minnesota.
Develop an estimate of the proportion of Fortune 500 companies that are not based in thesefour states.

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