Answered: (a) Find the mean of p, where p is the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Concept explainers

Question

A minority representation group accuses a major bank of racial discrimination in its recent hires for financial analysts. Exactly 12%of all applications were from minority members, and exactly 10% of the 1650 open positions were filled by members of the minority.

Answer the following.

(a) Find the mean of p, where p is the proportion of minority member applications in a random sample of 1650 that is drawn from all applications.

b) Find the standard deviation of p

c) Compute an approximation for P(p≤1), which is the probability that there will be 10%or fewer minority member applications in a random sample of 1650 drawn from all applications. Round your answer to four decimal places.

Expert Solution

Step 1

(a)

The mean of p is,

$\begin{array}{rcl} μ & = & p \\ = & 0.12 \end{array}$

Thus, the mean of p is 0.12.

The mean number of minority member applications is $198 (= 0.12 \times 1650)$ .

The standard deviation of p is,

$\begin{array}{rcl} σ & = & \sqrt{\frac{p (1 - p)}{n}} \\ = & \sqrt{\frac{0.12 \times (1 - 0.12)}{1650}} \\ = & \sqrt{0.000064} \\ = & 0.008 \end{array}$

Thus, the standard deviation of p is 0.008.

The number of applications is $13.2 (= 0.008 \times 1650)$ .

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Point Estimation, Limit Theorems, Approximations, and Bounds$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions