Question
In: Statistics and Probability
Based on historical data, your manager believes that 31% of the company's orders come from first-time...
Based on historical data, your manager believes that 31% of the company's orders come from first-time customers. A random sample of 187 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.23?
Solutions
Expert Solution
Solution:
Given that,
n = 487
=31% =0.31
1 - 
= 1 - 0.31 = 0.69
=
= 0.31
= 
( 1 -
) / n
=
= 0.0338
= 0.0338
P(
> 0.23 )
= 1 - P (
< 0.23 )
= 1 - P (
-
/
) < ( 0.23 - 031 / 0.0338 )
= 1 - P ( z < -0.08 / 0.0338 )
= 1 - P ( z < -2.37 )
Using z table
= 1 - 0.0089
= 0.9911
Probability = 0.9911
orchestra answered 1 year agoRelated Solutions
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