7. Assume that the population proportion of all business professionals who select an airline based on price is 0.25. A random sample of 225 business professionals is to be taken for further study.

A) What is the shape, mean (expected value), and standard deviation of the sampling distribution of the sample proportion for samples of size 225?

B) What is the probability that our sample of 225 results in a sample proportion that falls within 3 percent (+/- .03) of the population value?

Question

7. Assume that the population proportion of all business professionals who select an airline based on price is 0.25. A random sample of 225 business professionals is to be taken for further study.

A) What is the shape, mean (expected value), and standard deviation of the sampling distribution of the sample proportion for samples of size 225?

B) What is the probability that our sample of 225 results in a sample proportion that falls within 3 percent (+/- .03) of the population value?

mathmale · Answer

We'll need to list the appropriate variables necessary to solve this problem and then obtain their values from the problem statement or from definitions:

p = population proportion = 0.25

p-hat  = sample proportion = p = 0.25

population standard deviation:  not given

sample std. dev. = |dw:1402870298269:dw|