A record store owner finds that 20% of customers entering her store make a purchase. One morning

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A record store owner finds that 20% of customers entering her store make a purchase. One morning 180 people, who can be regarded as a random sample of all customers, enter the store.
a. What is the mean of the distribution of the sample proportion of customers making a purchase?
b. What is the variance of the sample proportion?
c. What is the standard error of the sample proportion?
d. What is the probability that the sample proportion is less than 0.15?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistics For Business And Economics

ISBN: 9780132745659

8th Edition

Authors: Paul Newbold, William Carlson, Betty Thorne

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