Direct marketing companies are turning to the Internet for new opportunities. A recent study by Gruppo,...

Direct marketing companies are turning to the Internet for new opportunities. A recent study by Gruppo, Levey, & Co. showed that 73% of all direct marketers conduct transactions on the Internet. Suppose a random sample of 310 direct marketing companies is taken.

a. What is the probability that between 220 and 241 (inclusive) direct marketing companies are turning to the Internet for new opportunities?
b. What is the probability that 75% or more of direct marketing companies are turning to the Internet for new opportunities?
c. Suppose a random sample of 500 direct marketing companies is taken. Now what is the probability that 75% or more are turning to the Internet for new opportunities?How does this answer differ from the answer in part (b)? Why do the answers differ?

(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answers to 4 decimal places.)

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Expert Solution

orchestra answered 1 year ago

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