An institute reported that 63% of its members indicate that lack of ethical cult

Question

An institute reported that 63% of its members indicate that lack of ethical culture within finacial firms has contributed mot to the lack of trust in the financilas industry. Suppose that you selected a sample of 100 institute members. Complete parts (a) through (d) below.

a) What is the probabiltiy that the sample percentage indicating that lack of ethical curlture within finacial firems has contributed the most of the lack of trust in the financial industry will be between 61% and 66%? (Type an integer or decimal rounded to four decimal places as needed.

b) The probabiltiy of 80% that the sample percetnage will be cotainded above ____ % and below_____% (type integers or deceimals rounded to one deciamal place needed.)

Explanation / Answer

Solution

Given that p = 0.63

n = 100

(a) P(0.61<X<0.66) = P((0.61-0.63)/((0.63)(0.37)/100)0.5<Z<(0.66-0.63)/((0.63)(0.37)/100)0.5)

P(-0.41<Z<0.62) = 0.3915

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