Roper Checkbook
by admin on Apr.15, 2009, under Leather Credit Card Holder
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Roper Checkbook

another stat question... ?
Roper ASW conducted a survey to learn about American adults' attitudes twoard money and happiness. 56% of the respondents said they balance their checkbook at least once a month. Suppose a sample of 400 American adults were selected.
What is the probability that the sample proportion will be within ±.02 if the population proportion?
Let p be the population proportion of the respondents said they balance their checkbook at least once a month.
Since n*p= 400*56%=224 and n*(1-^p)=400*(1-56%)=176 are both at least greater than 5, then n is considered to be large and so the sampling distribution of sample proportion-^p will follow the z standard normal distribution. This sampling distribution will have the mean of the sample proportions = U^p = p = 56% = 0.56 and the standard deviation of the sample proportions = δ^p = √[p(1-p)/n] =
√[0.56*(1-0.56)/400] = √0.000616
The lower limit of the sample proportion which is less than or equal to 0.02 from the population proportion
= 0.56-0.02
= 0.54
The upper limit of the sample proportion which is less than or equal to 0.02 from the population proportion
= 0.56+0.02
= 0.58
So,
P(0.54<^p<0.58)
= P{[(0.54-0.56)/√0.000616]<[(^p-p)/δ^p]<
{[(0.58-0.56)/√0.000616]}
= P(-0.81
= 0.582
So, there is a 0.582 probability that the sample proportion will be within ±.02 of the population proportion.
Hope this helps.
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![]() | TonyLama Leather Rodeo/Roper WALLET Checkbook/BULLRIDER | ![]() | ![]() | US $35.00 | 7d 2h 39m |
![]() | Nocona Leather ~ TEXAS Roper Rodeo WALLET ~ Checkbook Bills Credit Cards Photos | ![]() | ![]() | US $24.00 | 11d 22h 31m |
![]() | Leather/Concho~Rodeo/Roper WALLET~Checkbook/Credit Card | ![]() | ![]() | US $19.99 | 13d 22h 28m |
![]() | Tony Lama BULL RIDER Roper Wallet billbold Checkbook Cover | ![]() | ![]() | US $41.00 | 19d 22h 46m |
![]() | ENMON Small Buck Deer logo Leather Roper Billfold Wallet Checkbook | ![]() | ![]() | US $41.00 | 2d 2h 25m |
![]() | Mossy Oak Shoot Gun Shell logo Leather Roper Billfold Wallet Checkbook | ![]() | ![]() | US $41.00 | 2d 1h 52m |
![]() | Distressed Bomber Jacket Roper Genuine Leather Wallet Checkbook | ![]() | ![]() | US $24.99 | 16d 18h 3m |
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