What is the best approximation of the solution to the system to the nearest integer values?
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Answer:
Approximate probability that the number of households that use the Internet for banking in a sample of 1000 is less than or equal to 130 is less than 0.0005% .
Step-by-step explanation:
We are given that let X be the number that do some or all of their banking on the Internet.
Also; Mean, = 310/1000 or 0.31 and Standard deviation,
= 14.63/1000 = 0.01463 .
We know that Z = ~ N(0,1)
Probability that the number of households that use the Internet for banking in a sample of 1000 is less than or equal to 130 is given by P(X <= 130/1000);
P(X <=0.13) = P( <=
) = P(Z <= -12.303) = P(Z > 12.303)
Since this value is not represented in the z table as the value is very high and z table is limited to x = 4.4172.
So, after seeing the table we can say that this probability is approximately less than 0.0005% .