Question

Roper ASW conducted a survey to learn about American adults’ attitudes toward money and happiness (Money,Money, October 20032003). Fifty-six percent of the respondents said they balance their checkbook at least once a month.

What is the probability that the sample proportion will be within ±.04\pm .04 of the population proportion?

Solution

Verified
Answered 4 months ago
Answered 4 months ago
Step 1
1 of 8

Given:

  • nn = Sample size = 400
  • pp = Population proportion = 56% = 0.56

In this exercise, we determine the probability P(pp<0.04)P(|\overline{p}-p|<0.04) or equivalently P(0.03<pp<0.04)P(-0.03<\overline{p}-p<0.04).

What is the probability distribution of p\overline{p}?

Create an account to view solutions

By signing up, you accept Quizlet's Terms of Service and Privacy Policy
Continue with GoogleContinue with Facebook

Create an account to view solutions

By signing up, you accept Quizlet's Terms of Service and Privacy Policy
Continue with GoogleContinue with Facebook