The article Students Increasingly Turn to Credit Cards (San Luis Obispo Tribune, July 21, 2006) reported that

The article €œStudents Increasingly Turn to Credit Cards€ (San Luis Obispo Tribune, July 21, 2006) reported that 37% of college freshmen carry a credit card balance from month to month. Suppose that the reported percentage was based on a random sample of 1,000 college freshmen. Suppose you are interested in learning about the value of p, the proportion of all college freshmen who carry a credit card balance from month to month. The following table is similar to the table that appears in Examples 8.4 and 8.5, and is meant to summarize what you know about the sampling distribution of ˆ p in the situation just described. The €œWhat You Know€ information has been provided. Complete the table by filling in the €œHow You Know It€ column.

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What You Know The sampling distribution of p is centered at the actual (but unknown) value of the How You Know It An estimate of the standard deviation ofp, which describes how much thep values spread out around the population proportion p, is 0,0153. The sampling distribution of p is approximately normal.