# Suppose that we wish to assess whether more than 60 percent of all U. S. households in

## Question:

a. Assuming that p equals .60 and the sample size is 1,000, what is the probability of observing a sample proportion that is at least .64?

b. Based on your answer in part a, do you think more than 60 percent of all U. S. households in the income class bought life insurance last year? Explain.

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**Related Book For**

## Essentials Of Business Statistics

**ISBN:** 9780078020537

5th Edition

**Authors:** Bruce Bowerman, Richard Connell, Emily Murphree, Burdeane Or