Item 3 (Large-sample test about the proportion) Use Critical Value Method by showing the steps and drawing the graph that illustrates your answer. Home Ownership A recent survey found that 68.6% of the population own their homes. In a random sample of 150 heads of households, 92 responded that they owned their homes. At the a = 0.01 level of significance, does that suggest a difference from the national proportion?.
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
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