5.68 Vacation Homes Approximately 60% of Canadians rank owning a vacation home nestled on a beach or
Question:
5.68 Vacation Homes Approximately 60% of Canadians rank "owning a vacation home nestled on a beach or near a mountain resort" as their number one choice for a status symbol. A sample of n = 400 Canadians is randomly selected.
a. What is the average number in the sample who would rank owning a vacation home number one?
b. What is the standard deviation of the number in the sample who would rank owning a vacation home number one?
c. Within what range would you expect to find the number in the sample who would rank having a vacation home as the number one status symbol?
d. If only 200 in a sample of 400 people ranked owning a vacation home as the top status symbol, would you consider this unusual? Explain. What conclusions might you draw from this sample information?
Step by Step Answer:
Introduction To Probability And Statistics
ISBN: 9780176509804
3rd Edition
Authors: William Mendenhall