Online use: 1 = uses online banking; 0= does not use online banking. ÞAge buckets are as follows: 1 = less than 15 years; 2 = 15-24 years; 3 = 25-34 years; 4 = 35-44 years; 5 = 45-54 years; 6 = 55-64 years; 7 = 65 years and older. CIncome buckets are as follows: 1 = less than $15,000; 2 = $15,000-$19,999; 3 = $20,000-$29,999; 4 = $30,000-$39,999; 5 = $40,000- $49,999; 6 = $50,000-$74,999; 7 = $75,000-$99,999; 8 = $100,000-$124,999; 9 = $125,000 and more. A market research firm conducts telephone surveys and the historical population proportion response rate (Hint: the population proportion (parameter) is KNOWN for this problem) for surveys is known to be 0.43 (i.e., the population response rate parameter p = 0.43 is known). Assume the firm surveys a total of 500 customers during a project. What is the probability that BETWEEN 200 and 225 (out of 500 surveyed) will respond to the survey?

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Chapter1: Starting With Matlab
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Online use: 1 = uses online banking; 0= does not use online banking.
ÞAge buckets are as follows: 1 = less than 15 years; 2 = 15-24 years; 3 = 25-34 years; 4 = 35-44 years; 5 = 45-54 years; 6 = 55-64
years; 7 = 65 years and older.
CIncome buckets are as follows: 1 = less than $15,000; 2 = $15,000-$19,999; 3 = $20,000-$29,999; 4 = $30,000-$39,999; 5 = $40,000-
$49,999; 6 = $50,000-$74,999; 7 = $75,000-$99,999; 8 = $100,000-$124,999; 9 = $125,000 and more.
Transcribed Image Text:Online use: 1 = uses online banking; 0= does not use online banking. ÞAge buckets are as follows: 1 = less than 15 years; 2 = 15-24 years; 3 = 25-34 years; 4 = 35-44 years; 5 = 45-54 years; 6 = 55-64 years; 7 = 65 years and older. CIncome buckets are as follows: 1 = less than $15,000; 2 = $15,000-$19,999; 3 = $20,000-$29,999; 4 = $30,000-$39,999; 5 = $40,000- $49,999; 6 = $50,000-$74,999; 7 = $75,000-$99,999; 8 = $100,000-$124,999; 9 = $125,000 and more.
A market research firm conducts telephone surveys and the historical population proportion response
rate (Hint: the population proportion (parameter) is KNOWN for this problem) for surveys is known to be
0.43 (i.e., the population response rate parameter p = 0.43 is known). Assume the firm surveys a total of
500 customers during a project. What is the probability that BETWEEN 200 and 225 (out of 500
surveyed) will respond to the survey?
Transcribed Image Text:A market research firm conducts telephone surveys and the historical population proportion response rate (Hint: the population proportion (parameter) is KNOWN for this problem) for surveys is known to be 0.43 (i.e., the population response rate parameter p = 0.43 is known). Assume the firm surveys a total of 500 customers during a project. What is the probability that BETWEEN 200 and 225 (out of 500 surveyed) will respond to the survey?
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