The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29
Question:
a. Suppose a sample of 200 entrepreneurs will be taken to learn about the most important qualities of entrepreneurs. Show the sampling distribution of ṕ where ṕ is the sample proportion of entrepreneurs whose first startup was at 29 years of age or less.
b. What is the probability that the sample proportion in part (a) will be within ± .05 of its population proportion?
c. Suppose a sample of 200 entrepreneurs will be taken to learn about the most important qualities of entrepreneurs. Show the sampling distribution of ṕ where ṕ is now the sample proportion of entrepreneurs whose first startup was at 30 years of age or more.
d. What is the probability that the sample proportion in part (c) will be within ±.05 of its population proportion?
e. Is the probability different in parts (b) and (d)? Why?
f. Answer part (b) for a sample of size 400. Is the probability smaller? Why?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Essentials Of Statistics For Business And Economics
ISBN: 9781305081598
7th Edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam
Question Posted: