Answer
$\hat{p}$ = 0.519
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 Americans who believe that television is a luxury. On the other hand, n is the sample size which consists 1003 Americans.
Therefore, $\hat{p}$ = $\frac{x}{n}$ = $\frac{521}{1003}$ = 0.519
