A credit card company is interested in the proportion of its customers who pay their minimum balance on time. The company randomly sampled 500 records from the previous month. The 95% confidence interval for the true proportion of customers who pay on time was (0.765, 0.835). What are the point estimate and the margin of error for this interval?
Answer
A
The point estimate is 0.765, the margin of error is 0.835.
B
The point estimate is 0.765, the margin of error is 0.07.
C
The point estimate is 0.80, the margin of error is 0.035.
D
The point estimate is 0.80, the margin of error is 0.07.