Do you believe your children will have a higher standard of living than you have?This question was

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"Do you believe your children will have a higher standard of living than you have?"This question was asked of a national sample of American adults with children in a TirneKNN poll (Jan. 29, 1996). Sixty-three percent answered in the affirmative, with a margin of error of plus or minus 3%. Assume that the true percentage of all American adults who believe their children will have a higher standard of living is .60. Let x represent the number in a random sample of five American adults who believe their children will have a higher standard of living.

a. Demonstrate that x is (approximately) a binomial random variable.

b. What is the value of p for the binomial experiment?

C. Find P(X = 3).

d. Find ~(x 5 2).

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Statistics For Business And Economics

ISBN: 9780130272935

8th Edition

Authors: James T. McClave, Terry Sincich, P. George Benson

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