Question
The Food Marketing Institute shows that 15% of households spend more than $100 per week on groceries. Assume the population proportion is p = 0.15
The Food Marketing Institute shows that 15% of households spend more than $100 per week on groceries. Assume the population proportion is p = 0.15 and a sample of 800 households will be selected from the population. Use z-table.
a- Calculate (), the standard error of the proportion of households spending more than $100 per week on groceries (to 4 decimals).
b- What is the probability that the sample proportion will be within +/- 0.02 of the population proportion (to 4 decimals)?
c- What is the probability that the sample proportion will be within +/- 0.02 of the population proportion for a sample of 1,300 households (to 4 decimals)?
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ISE Introductory Financial Accounting For Business
Authors: Thomas P. Edmonds, Christopher Edmonds
2nd Edition
1260575306, 9781260575309
