A Phoenix Wealth Management/Harris Interactive survey of 1200 individuals with net worth of $1 million or more provided a variety of statistics on wealthy people (Business Week, September 22, 2013). The previous three-year period had been bad for the stock market, which motivated some of the questions asked. The survey reported that 63% of the respondents lost 25% or more of their portfolio value over the past three years. Develop a 95% confidence interval for the proportion of wealthy people who lost 25% or more of their portfolio value over the past three years. Nearest 0.01.