In a Midwestern state an automobile insurance company has a large number of cust

Question

In a Midwestern state an automobile insurance company has a large number of customers. From company files it is known that 58% of the customers have only the state minimums for insurance. An official with the state board of insurance is going to take a random sample of 100 accounts to review. Find the standard deviation of the sample proportion in this situation.

Give your answer to 4 decimal places. For help on how to input a numeric answer, please see "Instructions for inputting a numeric response."

Explanation / Answer

Here,          
n =    100      
p =    0.58      
          
s = standard deviation = sqrt(p(1-p)/n)

= sqrt(0.58*(1-0.58)/100)

s = 0.049355851 = 0.0494 [ANSWER]  

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