do fast Consider random samples of size 50 from a population with proportion 0.30. Find the standard error of the distribution of sampleproportions.Round your answer for the standard error to three decimal places.standard error =i

Given Sample size (n) = 50Population proportion (p) = 0.30 The standard error of the distribution of…

Answered: Consider random samples of size 50 from…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

A simple random sample is a sample drawn in such a way that each member of the population has: some chance of being selected in the sample. an equal chance of being included in the sample. a 1% chance of being included in the sample.
The standard error of the sampling distribution of the sample mean for a sample size of n drawn from a population with a mean of μ and a standard deviation of σ is: sample standard deviation divided by the sample size. sample standard deviation divided by the square root of the sample size. population standard deviation divided by the square root of the sample size.
A random sample of 49 lunch customers was selected at a restaurant. The average amount of time the customers in the sample stayed in the restaurant was 33 minutes. From past experience, it is known that the population standard deviation equals 10 minutes. Compute the standard error of the mean. 15 1.428 10 5 Sample: n= Mean= s= Graph
According to Reader's Digest, 47% of primary care doctors think their patients receive unnecessary medical care. Use z-table. a. Suppose a sample of 310 primary care doctors was taken. Show the sampling distribution of the proportion of the doctors who think their patients receive unnecessary medical care. E(F) (to 4 decimals) b. What is the probability that the sample proportion will be within ±0.03 of the population proportion. Round your answer to four decimals. c. What is the probability that the sample proportion will be within 0.05 of the population proportion. Round your answer to four decimals. d. What would be the effect of taking a larger sample on the probabilities in parts (b) and (c)? Why? The probabilities would - Select your answer - This is because the increase in the sample size makes the standard error, Op . - Select your answer - ♥
What is the meaning of x ~ N (50, 20)? 1. Sampling distribution of x is distributed with a mean of 20 and a standard deviation of 50 2. x-bar is normally distributed with a mean of 20 and a standard deviation of 50 3. x is normally distributed with a mean of 50 and a standard deviation of 20 4. Sampling distribution of x is distributed with a mean of 50 and a standard deviation of 20
Sample variance: sample standard deviation:
What is the meaning of x ̅ ~ N (50, 2)? 1. The Sampling distribution is distributed normally with a mean of 50 and a standard deviation of 2 2. Sampling distribution of x is distributed normally with a mean of 2 and a standard deviation of 50 3. x is normally distributed with a mean of 50 and a standard deviation of 2 4. x-bar is normally distributed with a mean of 2 and a standard deviation of 50
A bank has kept records of the checking balances of its customers and determined that the average daily balance of its customers is $300 with a standard deviation of $48. A random sample of 144 checking accounts is selected. What is the probability that the sample mean will be more than $306.60? 0.049 1 0.55 0.88 Answer Sample: n= Mean= SD= Probability[P(X>)]= z= Probability[P(Z)]= Graph
The population’s mean is 30 and the mean of a sample of size 100 is 28.5. The variance of the sample is 25. The standard error of the sample mean is closest to: 0.05. 0.25. 0.50.
Independent random samples selected at two local malls provided the following information regarding purchases by patrons of the two malls. Hamilton Place Eastgate Sample size 85 93 Average purchase $143 $150 Standard deviation $22 $18 State the null and alternative hypotheses, to test if the purchases in two malls are different? H0:M1-M2<0 Ha:M1-M2>0 H0:M1-M2=0 Ha:M1-M2!=0 H0:M1-M2<=0 Ha:M1-M2>0 H0:M1-M2>=0 Ha:M1-M2< Question to Answer:Standard population meanStandard deviationLevel (a)SampleOne or two tailed testZ ValueH0HA
Sampling error is defined as: an error that occurs when a sample of less than 30 elements is drawn. an error that occurs during collection, recording, and tabulation of data. the difference between the value of a sample statistic and the value of the corresponding population parameter.
Consider a sample with data values of 26, 24, 21, 16, 31, 35, 29, and 24. Compute the 20th, 25th, 65th, and 75th percentiles.

SEE MORE QUESTIONS

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS

Consider random samples of size 50 from a population with proportion 0.30. Find the standard error of the distribution of sample proportions. Round your answer for the standard error to three decimal places. standard error = i