Question
6. Based on historical data, your manager believes that 30% of the company's orders come from first-time customers. A random sample of 51 orders will
6. Based on historical data, your manager believes that 30% of the company's orders come from first-time customers. A random sample of 51 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.19? Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations. Answer =
(Enter your answer as a number accurate to 4 decimal places.)
7. Based on historical data, your manager believes that 41% of the company's orders come from first-time customers. A random sample of 219 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is between 0.31 and 0.42? Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations. Answer =
(Enter your answer as a number accurate to 4 decimal places.)
8.
CNNBC recently reported that the mean annual cost of auto insurance is 959 dollars. Assume the standard deviation is 213 dollars. You take a simple random sample of 63 auto insurance policies. Find the probability that a single randomly selected value is less than 969 dollars. P(X 961) = Find the probability that a sample of size n = 82 is randomly selected with a mean that is more than 961 dollars. P(M>961)=:] Enter your answers as numbers accurate to 4 decimal places. CNNBC recently reported that the mean annual cost of auto insurance is 1040 dollars. Assume the standard deviation is 101 dollars. You will use a simple random sample of 116 auto insurance policies. Find the probability that a single randomly selected policy has a mean value between 1054.1 and 1060.6 dollars. P(1054.1Step by Step Solution
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