Question: Week 5: Central Limit Theorem for Proportions Due Oct 5 by 11:59pm Points 10 Submitting an external tool At a small business convention, 63% of
Week 5: Central Limit Theorem for Proportions Due Oct 5 by 11:59pm Points 10 Submitting an external tool At a small business convention, 63% of businesses turned a profit within the first three years of opening. A reporter would like to interview these successful businesses. If a random sample of 60 businesses at the convention are chosen. Use the graph below to calculate probability that more than 80% of them turned a profit within the first three years of opening. 1. Drag and move the blue dot to select the appropriate probability graph area from the four options on the left. (Note - there are four graphs available to choose from. Only select between less than, greater than, and area between graphs.) 2. Use the Central Limit Theorem to find p and op. 3. Calculate the z-score for p and move the slider along the x-axis to the appropriate z-score. 4. The purple area under the curve represents the probability of the event occurring. Interpret the purple area under the curve. Remember, do not round any values or change fractions to approximated decimals during calculations. Only round the calculated z-score to two places and all other final answers to three decimal places
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