News reports tell us that the average American is overweight. Many of us have tried to trim

Question:

News reports tell us that the average American is overweight. Many of us have tried to trim down to our weight when we finished high school or college. And, in fact, only 19% of adults say they do not suffer from weight-loss woes. Suppose that the 19% figure is correct, and that a random sample of n = 100 adults is selected.

a. Does the distribution of p̂, the sample proportion of adults who do not suffer from excess weight, have an approximate normal distribution? If so, what is its mean and standard deviation?

b. What is the probability that the sample proportion p̂ exceeds .25?

c. What is the probability that p̂ lies within the interval .25 to .30?

d. What might you conclude about p if the sample proportion exceeded .30?

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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