A previous study found that of people preferred drinking Pepsi over Coca Cola. Use a normal distribution to approximate the probability that a random sample of people reveals people or more preferring Pepsi.
Table of contents
- 1. Introduction to Statistics53m
- 2. Describing Data with Tables and Graphs2h 2m
- 3. Describing Data Numerically2h 8m
- 4. Probability2h 26m
- 5. Binomial Distribution & Discrete Random Variables3h 28m
- 6. Normal Distribution & Continuous Random Variables2h 21m
- 7. Sampling Distributions & Confidence Intervals: Mean3h 37m
- Sampling Distribution of the Sample Mean and Central Limit Theorem19m
- Distribution of Sample Mean - Excel23m
- Introduction to Confidence Intervals22m
- Confidence Intervals for Population Mean1h 26m
- Determining the Minimum Sample Size Required12m
- Finding Probabilities and T Critical Values - Excel28m
- Confidence Intervals for Population Means - Excel25m
- 8. Sampling Distributions & Confidence Intervals: Proportion2h 20m
- 9. Hypothesis Testing for One Sample5h 15m
- Steps in Hypothesis Testing1h 13m
- Performing Hypothesis Tests: Means1h 1m
- Hypothesis Testing: Means - Excel42m
- Performing Hypothesis Tests: Proportions39m
- Hypothesis Testing: Proportions - Excel27m
- Performing Hypothesis Tests: Variance12m
- Critical Values and Rejection Regions29m
- Link Between Confidence Intervals and Hypothesis Testing12m
- Type I & Type II Errors16m
- 10. Hypothesis Testing for Two Samples5h 35m
- Two Proportions1h 12m
- Two Proportions Hypothesis Test - Excel28m
- Two Means - Unknown, Unequal Variance1h 2m
- Two Means - Unknown Variances Hypothesis Test - Excel12m
- Two Means - Unknown, Equal Variance15m
- Two Means - Unknown, Equal Variances Hypothesis Test - Excel9m
- Two Means - Known Variance12m
- Two Means - Sigma Known Hypothesis Test - Excel21m
- Two Means - Matched Pairs (Dependent Samples)42m
- Matched Pairs Hypothesis Test - Excel12m
- Two Variances and F Distribution29m
- Two Variances - Graphing Calculator15m
- 11. Correlation1h 24m
- 12. Regression3h 42m
- Linear Regression & Least Squares Method26m
- Residuals12m
- Coefficient of Determination12m
- Regression Line Equation and Coefficient of Determination - Excel8m
- Finding Residuals and Creating Residual Plots - Excel11m
- Inferences for Slope32m
- Enabling Data Analysis Toolpak1m
- Regression Readout of the Data Analysis Toolpak - Excel21m
- Prediction Intervals13m
- Prediction Intervals - Excel19m
- Multiple Regression - Excel29m
- Quadratic Regression23m
- Quadratic Regression - Excel10m
- 13. Chi-Square Tests & Goodness of Fit2h 31m
- 14. ANOVA2h 32m
8. Sampling Distributions & Confidence Intervals: Proportion
Sampling Distribution of Sample Proportion
Multiple Choice
A bank analyzes customer adoption of its new mobile banking app. Historically, 45% of customers use online banking services. Use a normal distribution to approximate the probability that between 62 and 70 customers out of a sample of 100 will adopt the online banking service.
A
0.00165
B
0.000463
C
0.99
D
0.01
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Verified step by step guidance1
Identify the problem as a binomial distribution problem where n = 100 (sample size) and p = 0.45 (probability of success).
Use the normal approximation to the binomial distribution. Calculate the mean (μ) and standard deviation (σ) of the binomial distribution using the formulas: μ = n * p and σ = sqrt(n * p * (1 - p)).
Convert the binomial problem to a normal distribution problem by applying the continuity correction. For the range 62 to 70, adjust the values to 61.5 and 70.5.
Calculate the z-scores for 61.5 and 70.5 using the formula: z = (X - μ) / σ, where X is the value for which you are calculating the z-score.
Use the standard normal distribution table to find the probabilities corresponding to the calculated z-scores and determine the probability that the number of customers is between 62 and 70 by finding the difference between these probabilities.
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