Finding a confidence interval for a binomial proportion without knowing the mean or variance

confidence intervalstatistics

I'm just learning statistics and I've been given an interesting problem to solve that I'm unsure how to approach. I've dealt with various tests (t-test, chisq test, confidence intervals etc.) but I'm unsure how to apply it to this problem.

Given 20,000 products, we take a random sample of 320 products and find that 59 of them are faulty. Identify with 95% confidence the confidence interval of the ratio of faulty products.

Since this is all the information we have, I don't know the mean or variance since this was a single trial, or do we assume mean to be 59 and variance 0?.. I've never dealt with this kind of problem before, and I believe I may be overthinking it.

Best Answer

From comments:

This would be a binomial proportion confidence interval. There are various different approaches.

You do have a sample mean for the faulty proportion, $\frac{59}{320}$, and a positive sample variance

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