The probability that the sample proportion will be less than 0.04 is <u>0.0188 or 1.88%</u>.
The true proportion given to us (p) = 0.07.
The sample size is given to us (n) = 313.
The standard deviation can be calculated as (s) = √[{p(1 - p)}/n] = √[{0.07(1 - 0.07)}/313] = √{0.07*0.93/313} = √0.000207987 = 0.0144217.
The mean (μ) = p = 0.07.
Since np = 12.52 and n(1 - p) = 291.09 are both greater than 5, the sample is normally distributed.
We are asked the probability that the sample proportion will be less than 0.04.
Using normal distribution, this can be shown as:
P(X < 0.04),
= P(Z < {(0.04-0.07)/0.0144217}) {Using the formula Z = (x - μ)/s},
= P(Z < -2.0802)
= 0.0188 or 1.88% {From table}.
Thus, the probability that the sample proportion will be less than 0.04 is <u>0.0188 or 1.88%</u>.
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Answer:
x=$5400:8
$5400:8x = total loss after the owners contribution
The data distribution is positively skewed
Answer:
68%
Step-by-step explanation:
Probability of occurrence of Event v = P(v) = 28% = 0.28
Probability of occurrence of both Events v and Event w together = P(v and w) = 19% = 0.19
We have to find what is the probability that event w occurs with event v given that event v occurs on a Tuesday. This is a conditional probability. In other words we have to find what is the probability of event w given that event v occurs of Tuesday. i.e we have to find P(w|v)
The formula to calculate this conditional probability is:

Using the given values, we get:

Therefore, the probability that even w will occur with event v given that event v occurs on Tuesday is 68%