question archive A survey of all medium- and large-sized corporations showed that 63% of them offer retirement plans to their employees
A survey of all medium- and large-sized corporations showed that 63% of them offer retirement plans to their employees
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A survey of all medium- and large-sized corporations showed that 63%
of them offer retirement plans to their employees. Let p^
be the proportion in a random sample of 60
such corporations that offer retirement plans to their employees. Find the probability that the value of p^
will be between 0.56
and 0.62.
round the answer to four decimal points
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We have p = 0.63 and n = 60
We need to find ?P(0.56<p^?<0.62) =P(((1−p)∗p)/n?p^?1?−p?<z<((1−p)∗p)/n?p^?2?−p?) =P(((1−0.63)∗0.63)/60?0.56−0.63?<z<((1−0.63)∗0.63)/60?0.62−0.63?) =P(−1.1231<z<−0.1604) =P(z<−0.1604)−P(z<−1.1231) =0.4363−0.1307............................using standard normal distribution table =0.3056?
