Economics find that 22% of EU S adults believe gas prices will increase during the next year. Consider a random sample of 425 US adults. find the probability that the sample proportion of dolts who believe gas prices will increase is within .02 of the population proportionverify that the normal distribution approximation is reasonable for this problem

We have given that Population proportion p=22%=0.22 Sample size n= 425

Answered: Economics find that 22% of EU S adults…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Economics find that 22% of EU S adults believe gas prices will increase during the next year. Consider a random sample of 425 US adults.

find the probability that the sample proportion of dolts who believe gas prices will increase is within .02 of the population proportion
verify that the normal distribution approximation is reasonable for this problem

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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