15) Yanni received her monthly credit card statement in the mail, the summary of which is shown below. When she
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Answer:
the standard error of the proportion is 0.0272
Step-by-step explanation:
We have that if the sample size is greater than 5% of the entire population, a finite population correction factor (fpc) is multiplied with the standard error :
fpc =
We know that N = 250 n = 91, replacing:
fpc =
fpc = 0.799
Now, the formula would then be:
SE = *fpc
Now replacing, knowing that p = 0.12
SE= *0.799
SE = 0.0272
So the standard error of the proportion is 0.0272