32 randomly picked people were asked if they rented or owned their own home, 8 said they rented. Obtain a point estimate of the proportion of home owners.subject: Statistics

Answer:3/4 of the people randomly asked if they rented or owned their own home, are home owners.Step-by-step explanation:1. Let's review the information given to us for solving the question:Number of people asked if they rented or owned their own home = 32Number of people who said they rented = 82. Let's obtain a point estimate of the proportion of home ownersFor finding the home owners, we make this calculation:Number of people asked if they rented or owned their own home - Number of people who said they rented32 - 8 = 24And now let's calculate the proportion:Number of people who said they are home owners /Number of people asked if they rented or owned their own home24/32 and dividing by 8 at the numerator and the denominator we have:3/4