A car is purchased for $21,000. After each year, the resale value decreases by 35%. What will the
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The standard deviation (SD) of a sample proportion obtained when the sample size is 1,600 is equal to 0.0121.
<h3>What is a sample proportion?</h3>A sample proportion can be defined as the proportion of individuals in a sample that have a specified characteristic or trait.
Mathematically, sample proportion can be calculated by using this formula:
Where:
- x represent the number of individuals with a specified characteristic.
- n represent the total number of individuals in a sample.
In Mathematics, the standard deviation (SD) of a sample proportion obtained when the sample size is 1,600 can be calculated by using this formula:
Standard deviation (SD) = √(p(1 - p)/n)
Substituting the given parameters into the formula, we have;
Standard deviation (SD) = √(0.37(1 - 0.37)/1,600)
Standard deviation (SD) = √(0.37(0.63)/1,600)
Standard deviation (SD) = √(0.2331)/1,600)
Standard deviation (SD) = √0.0001457
Standard deviation (SD) = 0.0121.
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