Question: 11. According to creditcard.com, 29% of adults do not own a credit card. Suppose a random sample of 500 adults is asked Do you

11. According to creditcard.com, 29% of adults do not own a credit card. Suppose a random sample of 500 adults is asked Do y

11. According to creditcard.com, 29% of adults do not own a credit card. Suppose a random sample of 500 adults is asked "Do you own a credit card?" (23 points) a. Describe the sampling distribution of p, the sample proportion of adults that do not own a credit card. Be sure to verify the model requirements. (Hint: shape, center and spread) b. Use the sampling distribution to determine the probability that in a random sample of 500 adults more than 30% do not own a credit card. c. Use the sampling distribution to determine the probability that in a random sample of 500 adults between 25% and 30% do not own a credit card. d. Would it be unusual for a random sample of S00 adults to result in 131 or fewer who do not own a credit card?

Step by Step Solution

★★★★★

3.46 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

You have a random sample of 500 population members from each of two populations and you want to set up a test for the following hypotheses: H 0 : 1 2 0 a. Suppose the sample...

A random sample of 500 married men was taken; each person was cross-classified as to the size community that he was presently residing in and the size community that he was reared in. The results are...

Suppose a random sample of 100 ages was taken from the 2000 census distribution. a. How would you describe the ages sample data above graphically? Construct the graph. b. Using the graph that you...

On January 2, 2016, the Hanover Company purchased some office equipment for $20,000. The equipment is expected to have a useful life of five years and a salvage value of $2,000. Prepare a schedule...

According to creditcard.com, 29% of adults do not own a credit card. (a) Suppose a random sample of 500 adults is asked, Do you own a credit card? Describe the sampling distribution of , the...

Please show all steps and work used to derive the answer. I'm more interested in making sure that I understand how to use formulas and correct processes properly, rather than just the right answer....

According to a survey in acountry, 24% of adults do not own a credit card. Suppose a simple random sample of 900 adults is obtained. Complete parts(a) through(d) below. (a) Describe the sampling...

4. Complete parts a trough d parts (a) through (d) below. According to a survey in a country, 35% of adults do not own a credit card. Suppose a simple random sample of 400 adults is obtained....

Approximately 27 of American adults do not own a credit card A random sample of 500 adults is asked Do you own a credit card Describe the sampling distribution of p the sample proportion of adults...

1. Ignore the problem. Jacobss contributions to new product development are too valuable to risk losing him, and the problems over the past 10 years have always worked themselves out anyway. No sense...

Historical Financial Statements (Income Statement, Balance Sheet and Statement of Cash Flows) from the 3 most current years for the firm. These should be downloaded from the SEC website. The...

Fill in the Blank Question Fill in the blank question. At the end of the first year, assets for a company are $60,000 and liabilities are $40,000. The debt-to-equity ratio is

Computer Wholesalers restores and resells notebook computers. It originally acquires the notebook computers from corporations upgrading their computer systems, and it backs each notebook it sells...

A small ball is projected horizontally as shown and bounces at point A. Determine the range of initial speed v 0 for which the ball will ultimately land on the horizontal surface at B. The...

The city of Chicago provides an open data set of the number of WiFi sessions at all of its public libraries. For 2014, there were an average of 451,846.9 WiFi sessions per month at all Chicago public...

The General Social Survey (GSS) asked separate random samples of people with only a high school degree and people with a bachelors degree, Do you favor or oppose the death penalty for persons...

A rigid tank with 0.5 kg ammonia at 1600 kPa, 160C is cooled in a reversible process by giving heat to a reversible heat engine that has its cold side at ambient temperature, 20C, shown in Fig....

The results reported for a recent PT event are graded as a failure for all samples. The reported results each had three digits reported (e.g., 161). The correct published results all had two digits...

According to creditcard.com, 29% of adults do not own a credit card. Suppose a random sample of 500 adults is asked, "do you own a credit card?" What is the probability that a random sample of 500...

According to a survey in a country, 38% of adults do not own a credit card. Suppose a random sample of 600 adults is obtained. Complete par A through D A)Determine the mean of the sampling...

According to a survey in a country, 26% of adults do not own a credit card. Suppose a simple random sample of 700 adults is obtained. Complete parts (a) through (d) below. Click here to View the...

=Homework: Ch 8 HW: Sampling Distribution Question 18, 8.2.18-T HW Score: 88.51%, 16.82 of 19 points Part 3 of 8 Points: 0.25 of 1 According to a survey in a country, 32% of adults do not own a...

This question: 1 point(s) possible Submit test According to a study conducted in one city, 29% of adults in the city have credit card debts of more than $2000. A simple random sample of n = 200...