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Q.5.1 Class Act Pty has found that 21% of its policy holders are below the age of 30. A sample of 165 customers is randomly

Q.5.1

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:

Q.5.1.1

Determine the standard error for this sample. (3)

Q.5.1.2

What is the probability that more than 20.50% of the customers in the sample are below the age of 30? Interpret the answer (7)

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