Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

[n 2015 the Better Business Bureau settled 76% of complaints they received in die United States. Suppose you have been hired by the Better Business

image text in transcribed
[n 2015 the Better Business Bureau settled 76% of complaints they received in die United States. Suppose you have been hired by the Better Business Bureau to investigate the complaints they received this year involving new car dealers. You plan to select a sample of new car dealer complaints to estimate the proportion of complaints the Better Business Bureau is able to settle. Assume the population proportion of complaints setded for new car dealers is 0.75, the same as the overall proportion of complaints settled in 2016. Use the zatable. a. Suppose you select a sample of 200 complaints involving new car dealers. Show the sampling distribution of. Eli) =l7l 0 (to 2 decimals) a,- l 0 {to 4 decimals) b. Based upon a sample of 20D complaints, what is the probability that the sample proportion will be within 0.02 of the population proportion (to 4 decimals)"-I c. Suppose you select a sample of 500 complaints involving new car dealers. Show the sampling distribution of. probability =l Elf) :l l0 (to 2 decimals) ay I 0 {to 4 decimals) d. Based upon the larger sample of 50D complaints, what is the probability that the sample proportion will be within 0.02 of the population proportion (to 4 decimals)? e. As measured by the increase in probability, how much do you gain in precision by taking the larger sample in part (d)? 0 (to E decimals). There is a gain in precision by ('3 the sample size. probability =l The probability of the sample proportion being within 0.02 of the population mean is increased by

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Stability Of Functional Equations In Banach Algebras

Authors: Yeol Je Cho, Choonkil Park, Themistocles M Rassias, Reza Saadati

1st Edition

3319187082, 9783319187082

More Books

Students also viewed these Mathematics questions

Question

Describe the process of replacing bad habits with good ones.

Answered: 1 week ago

Question

What are the core functions of the universitys HRM department?

Answered: 1 week ago

Question

Identify a set of competencies for tenured faculty

Answered: 1 week ago