QUESTION: 600 ÷ ___ = 3? SOURCE: i-Ready
1 answer:
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Answer:
The probability that no more than 70% would prefer to start their own business is 0.1423.
Step-by-step explanation:
We are given that a Gallup survey indicated that 72% of 18- to 29-year-olds, if given choice, would prefer to start their own business rather than work for someone else.
Let = <u><em>sample proportion of people who prefer to start their own business</em></u>
The z-score probability distribution for the sample proportion is given by;
Z = ~ N(0,1)
where, p = population proportion who would prefer to start their own business = 72%
n = sample of 18-29 year-olds = 600
Now, the probability that no more than 70% would prefer to start their own business is given by = P(
70%)
P(
70%) = P(
) = P(Z
-1.07) = 1 - P(Z < 1.07)
= 1 - 0.8577 = <u>0.1423</u>
The above probability is calculated by looking at the value of x = 1.07 in the z table which has an area of 0.8577.
Answer:
<em>Expected Payoff ⇒ $ 1.50 ; Type in 1.50</em>
Step-by-step explanation:
Considering that 1 out of the 100 tickets will have a probability of winning a 150 dollar prize, take a proportionality into account;
<em>Thus, Solution ; Expected Payoff ⇒ $ 1.50</em>