According to the research, 42% of homes sold in a certain month and year were pu

Question

According to the research, 42% of homes sold in a certain month and year were purchased by first-time buyers. A random sample of 175 people who just purchased homes is selected Complete parts a through e below. a. Calculate the standard error of the proportion. p-L(Round to four decimal places as needed.) b. What is the probability that less than 78 of them are first-time buyers? P(Less than 78 of them are first-time buyers)- (Round to four decimal places as needed.) c. What is the probability that more than 83 of them are first-time buyers? P(More than 83 of them are first-time buyers)- Round to four decimal places as needed.) d. What is the probability that more than 73 of them are first-time buyers? P(More than 73 of them are first-time buyers)- (Round to four decimal places as needed.) e. What is the probability that between 62 and 68 of them are first-time buyers? P(Between 62 and 68 of them are first-time buyers)- (Round to four decimal places as needed.) Enter your answer in each of the answer boxes. Chapter 1 Post-Test

Explanation / Answer

Here n=175 and p=0.42

SEp = sqrt [ p(1 - p) / n ]=sqrt[(0.42*0.58/175)]=0.03731

Mean=n*p=175*0.42=73.5

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