A Gallup survey indicated that 72% of 18- to 29-year-olds, if given a choice, would prefer to start their own business rather than work for someone else. A random sample of 600 18- to 29-year-olds is obtained today.
(a) Is the variable start own business versus work for someone else qualitative or quantitative?
(b) Describe the sampling distribution of p̂, the sample proportion of 18- to 29-year-olds who
would prefer to start their own business. Explain the source of variability in the sample
proportion.
(c) In a random sample of 600 18- to 29-year-olds, what is the probability that no more than 70%
would prefer to start their own business?
(d) Would it be unusual if a random sample of 600 18- to 29-year-olds resulted in 450 or more
who would prefer to start their own business?