A direct mail company wishes toestimate the proportion of people ona large mailing list that will purchase aproduct. Suppose the true proportionis 0.07.If 497 are sampled, what is theprobability that the sample proportionwill be greater than 0.05? Round youranswer to four decimal places.

given,true proportion(p)=0.07sample size (n)=497Mean () =p=0.07standard deviation ()…

Answered: A direct mail company wishes to…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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A direct mail company wishes to estimate the proportion of people on a large mailing list that will purchase a product. Suppose the true proportion is 0.07. If 497 are sampled, what is the probability that the sample proportion will be greater than 0.05? Round your answer to four decimal places.