Answer
$\hat{p}$ = 0.430
Work Step by Step
The point estimate of the population proportion is given by $\hat{p}$ = $\frac{x}{n}$. Here, $x$ represents the number of people in the sample with the specified characteristic and n represents the sample size.
In this question, $x$ is the number of workers and retirees, 25 and older, who have less than \$10,000 in savings. On the other hand, n is sample size which consists of workers and retirees who are 25 and older.
Therefore, $\hat{p}$ = $\frac{x}{n}$ = $\frac{496}{1153}$ = 0.430
