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.The CEO of a company believes that 20% of the firm's orders come from first-time customers. Let p denote this proportion for the population of
.The CEO of a company believes that 20% of the firm's orders come from first-time customers. Let p denote this proportion for the population of all customers. Assume that there is an infinite number of orders. A random sample of 100 orders will be used to estimate the proportion of first-time customers. Assume the CEO is correct and p = 0.20. Answer questions 1-2.
1.What is the standard deviation of the sample proportion?
0.3
0.02
0.21
0.04
2.What is the probability that the sample proportion will be less than 0.25?
0.55
0.45
0.894
0.106
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