$2.14 if rounding to the nearest cent.
Multiply the total cost by the percentage as a decimal (.15)
Answer:
Normal distribution with mean 0.6 and standard deviation 0.035
Step-by-step explanation:
It's a problem related to Population Proportion
In this, p′ = x / n where x represents the number of successes and n represents the sample size. The variable p′ is the sample proportion and serves as the point estimate for the true population proportion. q′ = 1 – p′
<em>The variable p′ has a binomial distribution that can be approximated by the normal distribution</em>
here, X is the number of “successes” where the woman makes the majority of the purchasing decisions for the household. P′ is the percentage of households sampled where the woman makes the majority of the purchasing decisions for the household.
x = 120
n = 200
p’ = 120/200 = 0.6
The sample proportion will follow the normal distribution. The mean of the distribution being p’ = 0.6
The standard deviation for the distribution is calculated as
Standard Deviation = √[(p’) x (1 – p’)/n]
Standard Deviation = √[(0.6) x (0.4)/200] = √0.0012
Standard Deviation = 0.035