The president a distributing company believes that 40% of the firm\'s orders com

Question

The president a distributing company believes that 40% of the firm's orders come from first- time customers. A random sample of 150 orders will be used to estimate the proportion of first time customers. Assume that the president is correct and p 0.40. 9. Compute the standard error of the sample proportion (use exactly two decimal places). 10. What is the probability that the sample proportion will be betwen 0.34 and 0.46? (Provide your answer using exactly four decimal places) 11. What is the probability that the sample proportion will be your answer using exactly four decimal places) 12. What is the probability that the sample proportion will be greater than 0.48? (Provide your answer using exactly four decimal places)

Explanation / Answer

Standard error of sample proportion=sqrt(0.4*(1-0.4)/100)=0.0489897949

Sample proportion follows Normal distribution approximately with mean 0.4, variance 0.0024

P(0.34<prop<0.46)=0.7793

P(0.36<prop<0.48)=0.7416

P(prop>0.48)=0.0512

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.