Based on historical data, your manager believes that 34% of the company's orders come from first-time customers. A random sample of 193 orders will be used to estimate the proportion of first-time- customers. What is the probability that the sample proportion is greater than than 0.23? Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations. Answer = (Enter your answer as a number accurate to 4 decimal places.)

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
**Probability of Sample Proportion Exceeding 0.23**

Based on historical data, your manager believes that 34% of the company's orders come from first-time customers. A random sample of 193 orders will be used to estimate the proportion of first-time customers. What is the probability that the sample proportion is greater than 0.23?

**Note**: You should carefully round any z-values you calculate to 4 decimal places to match WAMAP's approach and calculations.

**Answer:** [Enter your answer as a number accurate to 4 decimal places.]
Transcribed Image Text:**Probability of Sample Proportion Exceeding 0.23** Based on historical data, your manager believes that 34% of the company's orders come from first-time customers. A random sample of 193 orders will be used to estimate the proportion of first-time customers. What is the probability that the sample proportion is greater than 0.23? **Note**: You should carefully round any z-values you calculate to 4 decimal places to match WAMAP's approach and calculations. **Answer:** [Enter your answer as a number accurate to 4 decimal places.]
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman