Question

Financial investment ~ Kevin is looking to invest his money in a local investment company called Robin Hood financial services. To ensure his investment is safe and has good returns, he randomly surveys people who invested with the company and asks whether they would recommend the company for investment. Of the 426 people surveyed, 270 recommend Robin Hood financial services for investment. Using this data, Kevin wants to estimate the actual proportion of people who recommend Robin Hood financial services for investment.

We want to use statistical inference to estimate the actual proportion of people who recommend Robin Hood financial services for investment.

To use a normal distribution in this scenario, which of the following conditions must be satisfied?

Question 21 options:

	Both n×p0{"version":"1.1","math":"<math xmlns="http://www.w3.org/1998/Math/MathML"><mi>n</mi><mo>&#xD7;</mo><msub><mi>p</mi><mn>0</mn></msub></math>"} and n×(1−p0){"version":"1.1","math":"<math xmlns="http://www.w3.org/1998/Math/MathML"><mi>n</mi><mo>&#xD7;</mo><mo>(</mo><mn>1</mn><mo>-</mo><msub><mi>p</mi><mn>0</mn></msub><mo>)</mo></math>"} must be at least 10 where p0{"version":"1.1","math":"<math xmlns="http://www.w3.org/1998/Math/MathML"><msub><mi>p</mi><mn>0</mn></msub></math>"} is the null value for the population proportion.
	The observations within the sample must be independent of each other.
	There must be at least 10 observed successes and 10 observed failures in the sample.
	Any two samples must be independent of each other.

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Answer 1

Ans : all options are correct.