According to a Time Magazine/ABT SRBI poll conducted by telephone during October 9-10, 2011, 73% of adults age 18 years and older said that they are in favor of raising taxes on those with annual incomes of $1 million or more to help cut the federal deficit (Time, October 24, 2011). Assume that this percentage is true for the current population of all American adults age 18 years and older. Let p be the proportion of American adults age 18 years and older in a random sample of 749 who will hold the above opinion. Find the mean and standard deviation of the sampling distribution of and describe its shape.
According to a Time Magazine/ABT SRBI poll conducted by telephone during October 9-10, 2011, 73% of adults age 18 years and older said that they are in favor of raising taxes on those with annual incomes of $1 million or more to help cut the federal deficit (Time, October 24, 2011). Assume that this percentage is true for the current population of all American adults age 18 years and older. Let p be the proportion of American adults age 18 years and older in a random sample of 749 who will hold the above opinion. Find the mean and standard deviation of the sampling distribution of and describe its shape. Round your answer for the standard deviation to four decimal places.
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