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According to recent research, 51% of Americans have less than $475 in the bank for an emergency. Let p be the proportion of people
According to recent research, 51% of Americans have less than $475 in the bank for an emergency. Let p be the proportion of people who have less than $475 in the bank for an emergency in a random sample of 97 Americans. Determine the probability that the proportion of people in a random sample of 97 Americans who have less than $475 in the bank for an emergency is within 3% of the population proportion. Round the solution to four decimal places. P(p within 3% of the population proportion) Determine the probability that the proportion of people in a random sample of 97 Americans who have less than $475 in the bank for an emergency is less than the population proportion by 11% or more. Round the solution to four decimal places. P(p less than the population proportion by 11% or more)
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