A direct mail company wishes to estimate the proportion of people on a large mailing list that will purchase a product. Suppose the true proportion is 0.07. If 497 are sampled, what is the probability that the sample proportion will be greater than 0.05? Round your answer to four decimal places.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 7CR
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Question
A direct mail company wishes to
estimate the proportion of people on
a large mailing list that will purchase a
product. Suppose the true proportion
is 0.07.
If 497 are sampled, what is the
probability that the sample proportion
will be greater than 0.05? Round your
answer to four decimal places.
Transcribed Image Text:A direct mail company wishes to estimate the proportion of people on a large mailing list that will purchase a product. Suppose the true proportion is 0.07. If 497 are sampled, what is the probability that the sample proportion will be greater than 0.05? Round your answer to four decimal places.
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