A credit card company accepts 70%of all applicants for credit cards. A random sample of 100 applications

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A credit card company accepts 70%of all applicants for credit cards. A random sample of 100 applications is taken.

(a) What is the probability that the sample proportion of acceptance is between .60 and .80?

(b) What is the probability that the sample proportion is greater than .75?

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Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

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Question Posted: Feb 17, 2024 11:38 PM

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A credit card company accepts 70%of all applicants for credit cards. A random sample of 100 applications

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To find the probabilities we can use the normal approximation to the binomial distribution Given tha...View the full answer

Statistics For Business And Financial Economics

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