Ch 0?: Mastery Assignment - Sampling and Sampling Distributions 4. The sampling distribution of the sample proportion In 2007, about 20% of newcar purchases in Florida were financed with a home equity loan. (Source: Auto Industry Feels the pain of Tight Credit," The New York Times, May 27, 2008.] The ongoing process of new-car purchases in Florida can be viewed as an infinite population. Define p as the proportion of the population of newcar purchases in Florida that are financed with a home equity loan. The true population value of p is not known, but for the sake of this exercise assume that p = 0.20 You will calculate an estimate of p by drawing a simple random sample of 50 new-car purchases made in Florida. If the purchase was financed with a home equity loan, you record a value of Yes for the variable Home Equity. If the purchase was not financed with a home equity loan, you record a value of No for the variable Home Equity. Since the population is infinite, an infinite number of samples can be drawn from the population. The sample data for the variable Home Equity for 15 Simple random samples (of size 11. 50) that could be pulled from the population are in the data set samples. (Each value of Home Equity is a random selection from a binomial population with p = 0.2.) Simple random samples in - 50) drawn from a binomial population (p -0.20) Minitab was used to generate the samples Observations Form values in variables 15 Observations Type Home Sample Sample Qative Quattle Guitative Sales the Tv'erlatile ole