Question
In: Statistics and Probability
The Food Marketing Institute shows that 15% of households spend more than $100 per week on...
The Food Marketing Institute shows that 15% of households spend more than $100 per week on groceries. Assume the population proportion is p = 0.15 and a sample of 800 households will be selected from the population.
A) What is the probability that the sample proportion will be within +/- 0.03 of the population proportion (to 4 decimals)?
B) What is the probability that the sample proportion will be within +/- 0.03 of the population proportion for a sample of 1,200 households (to 4 decimals)?
Solutions
Expert Solution
Refer Standard normal table/Z-table to find the probability OR use excel formula "=NORM.S.DIST(2.38, TRUE)" & "=NORM.S.DIST(-2.38, TRUE)" to find the probability.
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given: n=1200
Refer Standard normal table/Z-table to find the probability OR use excel formula "=NORM.S.DIST(2.91, TRUE)" & "=NORM.S.DIST(-2.91, TRUE)" to find the probability.
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orchestra answered 1 year agoRelated Solutions
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more than $100 per week on groceries. Assume the population
proportion is p = 0.15 and a sample of 600 households will
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Calculate (), the standard error of the proportion of
households spending more than $100 per week on groceries (to 4
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The Food Marketing Institute shows that 15% of households spend more than $100 per week on...
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households spending more than $100 per week on groceries (to 4
decimals).
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week on groceries. Assume the population proportion is p =
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population. Use z-table.
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