The price of an item has increased 15% since last year. However, a person can buy the item for a 25% employee discount. The empl
1 answer:
You might be interested in
Answer:
The value is
Step-by-step explanation:
From the question we are told that
The population proportion is
The sample size is n = 563
Generally the population mean of the sampling distribution is mathematically represented as
Generally the standard deviation of the sampling distribution is mathematically evaluated as
=>
=>
Generally the probability that the proportion of persons with a college degree will differ from the population proportion by less than 5% is mathematically represented as
Here is the sample proportion of persons with a college degree.
So
Here
=>
=>
=>
From the z-table the probability of (Z < 2.37 ) and (Z < -2.37 ) is
and
So
=>
=>
=>