Olaf earned $416.03 commission on his sales of $9245.00. What was his rate of commission?
1 answer:
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Answer:
For the sampling distribution of the sample proportion for a sample of size 50, the mean is 0.061 and the standard deviation is 0.034.
Step-by-step explanation:
The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean and standard deviation
, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean
and standard deviation
.
For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.
For a proportion p in a sample of size n, the sampling distribution of the sample proportion will be approximately normal with mean and standard deviation
In this question:
So
Mean:
Standard deviation:
For the sampling distribution of the sample proportion for a sample of size 50, the mean is 0.061 and the standard deviation is 0.034.