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Ksenya-84 [330]
2 years ago
11

Based on historical data, your manager believes that 26% of the company's orders come from first-time customers. A random sample

of 158 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.4?
Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations.



Answer =


(Enter your answer as a number accurate to 4 decimal places.)
Mathematics
1 answer:
scoundrel [369]2 years ago
8 0

Answer:

\hat p \sim N( p, \sqrt{\frac{p (1-p)}{n}})

And we can use the z score formula given by:

z = \frac{\hat p -\mu_p}{\sigma_p}

And if we find the parameters we got:

\mu_p = 0.26

\sigma_p = \sqrt{\frac{0.26(1-0.26)}{158}} = 0.0349

And we can find the z score for the value of 0.4 and we got:

z = \frac{0.4-0.26}{0.0349}= 4.0119

And we can find this probability:

P(z>4.0119) = 1-P(z

And if we use the normal standard table or excel we got:

P(z>4.0119) = 1-P(z

Step-by-step explanation:

For this case we have the following info given:

p = 0.26 represent the proportion of the company's orders come from first-time customers

n=158 represent the sample size

And we want to find the following probability:

p(\hat p >0.4)

And we can use the normal approximation since we have the following two conditions:

1) np = 158*0.26 = 41.08>10

2) n(1-p) = 158*(1-0.26) = 116.92>10

And for this case the distribution for the sample proportion is given by:

\hat p \sim N( p, \sqrt{\frac{p (1-p)}{n}})

And we can use the z score formula given by:

z = \frac{\hat p -\mu_p}{\sigma_p}

And if we find the parameters we got:

\mu_p = 0.26

\sigma_p = \sqrt{\frac{0.26(1-0.26)}{158}} = 0.0349

And we can find the z score for the value of 0.4 and we got:

z = \frac{0.4-0.26}{0.0349}= 4.0119

And we can find this probability:

P(z>4.0119) = 1-P(z

And if we use the normal standard table or excel we got:

P(z>4.0119) = 1-P(z

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Leona purchased a $1,000 bond having a quoted price of 99.875. She had to pay a 5.5% brokerage fee (of the selling price). What
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Answer:

None of these choices are correct.

Step-by-step explanation:

If a bond is quoted at 99.875, it means that it is sold at 99.875%  of the face value;

Face value = 1000

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3 years ago
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