Question
In: Statistics and Probability
Goofy's fast food center wishes to estimate the proportion of people in its city that will...
Goofy's fast food center wishes to estimate the proportion of people in its city that will purchase its products. Suppose the true proportion is 0.07. If 324 are sampled, what is the probability that the sample proportion will differ from the population proportion by more than 0.04? Round your answer to four decimal places.
Solutions
Expert Solution
Solution:
Given that,
n = 324
= 0.07.
1 -
= 1 - 0.07. = 0.93
So,
a ) 
=
= 0.07.
=
( 1 -
) / n
= 
= 0.0142
=0.0235
p (
> 0.04)
= 1 - p (
< 0.04)
= 1 - p (
-
/
) < ( 0.04 - 0.07 / 0.0142 )
= 1 - p ( z < - 0.03 /0.0142 )
= 1 - p ( z < - 2.11)
Using z table
= 1 - 0.0174
= 0.9826
Probability = 0.9826
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