When it sends out its fundraising letter, a philanthropic organization typically gets a return from about 5%
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When it sends out its fundraising letter, a philanthropic organization typically gets a return from about 5% of the people on its mailing list. To see what the response rate might be for future appeals, it did a simulation using samples of size 20, 50, 100, and 200. For each sample size, it simulated 1000 mailings with success rate p = 0.05 and constructed the histogram of the 1000 sample proportions shown below. Explain how these histograms demonstrate what the Central Limit Theorem says about the sampling distribution model for sample proportions. Be sure to talk about shape, centre, and spread.
DistributionThe 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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Related Book For
Business Statistics
ISBN: 9780133899122
3rd Canadian Edition
Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright
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