After the first quarter of a presidents term, a poll indicated that a near record (low) level
Question:
After the first quarter of a president’s term, a poll indicated that a near record (low) level of 40% of eligible voters expressed “a great deal” of confidence in his government. You decide to conduct your own telephone survey at that time and randomly called people in your district and asked them to describe their level of confidence in the government.
You believe that p, the proportion of people who have a great deal of confidence in the government, is very much larger than 40% in your district. That is, p --> 1 is expected in your district. Consequently, you decide to increase k in such a way that (1 - p)k = 0.4, as p --> 1. Find the probability of making n + k calls as p --> 1, and interpret this result.
Entrepreneurial Finance
ISBN: 978-1305968356
6th edition
Authors: J. Chris Leach, Ronald W. Melicher