Understand sampling distributions and the Central Limit Theorem for Proportions

Question

Of the13,500

savings accounts in a bank,4,675

belong to people younger than40

years old. The bank president would like to increase her institution's marketing strategy to younger customers, so she is examining the population proportions.

Find the population proportion, as well as the mean and standard deviation of the sampling distribution for samples of sizen=400

.

Round all answers to 3 decimal places.