A Gallup survey indicated that 72% of 18- to 29-year-olds, if given a choice, would prefer to

Question:

A Gallup survey indicated that 72% of 18- to 29-year-olds, if given a choice, would prefer to start their own business rather than work for someone else. A random sample of 600 18- to 29-year-olds is obtained today.

(a) Describe the sampling distribution of pn, the sample proportion of 18- to 29-year-olds who would prefer to start their own business.

(b) In a random sample of 600 18- to 29-year-olds, what is the probability that no more than 70% would prefer to start their own business?

(c) Would it be unusual if a random sample of 600 18- to 29-year-olds resulted in 450 or more who would prefer to start their own business?

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...