The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29 years of age or less and the age at first startup for 45% of entrepreneurs was 30 years of age or more (The Wall Street Journal, March 19, 2012). a. Suppose a sample of 200 entrepreneurs will be taken to learnabout the most important qualities of entrepreneurs. Show thesampling distribution of p where p is the sample proportion ofentrepreneurs whose first startup was at 29 years of age or less.b. What is the probability that the sample proportion in part (a)will be within ±.05 of its population proportion?c. Suppose a sample of 200 entrepreneurs will be taken to learnabout the most important qualities of entrepreneurs. Show thesampling distribution of p where p is now the sample proportion ofentrepreneurs whose first startup was at 30 years of age or more.d. What is the probability that the sample proportion in part (c) willbe within +.05 of its population proportion?e. Is the probability different in parts (b) and (d)? Why?f. Answer part (b) for a sample of size 400. Is the probabilitysmaller? Why?

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Answered: a. Suppose a sample of 200…

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

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The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29 years of age or less and the age at first startup for 45% of entrepreneurs was 30 years of age or more (The Wall Street Journal, March 19, 2012).

a. Suppose a sample of 200 entrepreneurs will be taken to learn
about the most important qualities of entrepreneurs. Show the
sampling distribution of p where p is the sample proportion of
entrepreneurs whose first startup was at 29 years of age or less.
b. What is the probability that the sample proportion in part (a)
will be within ±.05 of its population proportion?
c. Suppose a sample of 200 entrepreneurs will be taken to learn
about the most important qualities of entrepreneurs. Show the
sampling distribution of p where p is now the sample proportion of
entrepreneurs whose first startup was at 30 years of age or more.
d. What is the probability that the sample proportion in part (c) will
be within +.05 of its population proportion?
e. Is the probability different in parts (b) and (d)? Why?
f. Answer part (b) for a sample of size 400. Is the probability
smaller? Why?

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