Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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)?

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

ISE Introductory Financial Accounting For Business

Authors: Thomas P. Edmonds, Christopher Edmonds

2nd Edition

1260575306, 9781260575309

More Books

Students also viewed these Accounting questions

Question

Has each action got a clear and measurable outcome?

Answered: 1 week ago

Question

Have you eliminated jargon and unexplained acronyms?

Answered: 1 week ago