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Part 1

Generation Y has been defined as those individuals who were born between 1981 and 1991. A 2010 survey by a credit counseling foundation found that

58%

of the young adults in Generation Y pay their monthly bills on time) Suppose we take a random sample of

220

people from Generation Y. Complete parts a through e below.

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Part 1

a. Calculate the standard error of the proportion.

p=enter your response here

(Round to four decimal places as needed.)

Part 2

b. What is the probability that

135

or fewer will pay their monthly bills on time?

P(135

or fewer Generation Y individuals will pay their monthly bills on

time)=enter your response here

(Round to four decimal places as needed.)

Part 3

c. What is the probability that

110

or fewer will pay their monthly bills on time?

P(110

or fewer Generation Y individuals will pay their monthly bills on

time)=enter your response here

(Round to four decimal places as needed.)

Part 4

d. What is the probability that

130

or more will pay their monthly bills on time?

P(130

or more Generation Y individuals will pay their monthly bills on

time)=enter your response here

(Round to four decimal places as needed.)

Part 5

e. What is the probability that between

119

and

135

of them will pay their monthly bills on time?

P(Between

119

and

135

of them will pay their monthly bills on

time)=enter your response here

(Round to four decimal places as needed.)