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Class Act Pty has found that 21% of its policy holders are below the age of 30. A sample of 165 customers is randomly selected.

Class Act Pty has found that 21% of its policy holders are below the age of 30. A sample of 165 customers is randomly selected. Assuming normal distribution:

Determine the standard error for this sample. What is the probability that more than 20.50% of the customers in (7) the sample are below the age of 30? Interpret your answer.

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