Explanation The hypergeometric distribution should satisfy the following conditions: The sample is selected from a finite population without replacement. The sample size n is 5% more than the population size N . In this context, the population size is 1,200. 5% of the population is 60 ( = 0.05 × 1 , 200 ) . Here, the sample size is 14, which is less than 5% of the population size. Therefore, the hypergeometric distribution cannot be used here. Hence, binomial distribution is used to find the likelihood that 14 approved of the proposed split. The formula to find the binomial probability is as follows: P ( X ) = C n x π x ( 1 − π ) ( n − x ) where, C is the combination . n is the number of trials . X is the random variable . π is the probability of success

Statistical Techniques in Business and Economics

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ISBN: 9780077639723

Author: Lind

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Chapter 6, Problem 46CE

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Chapter 6, Problem 45CE

Chapter 6, Problem 47CE

Chapter 6 Solutions

Statistical Techniques in Business and Economics

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