Question

1) A survey of recent first-time home buyers found that 45% of them plan to upgrade...

1) A survey of recent first-time home buyers found that 45% of them plan to upgrade to a bigger house within 5 years. You randomly select 30 recent first-time home buyers and ask them whether they plan to upgrade to a bigger home within 5 years.

Determine if  we can use the normal approximation to the binomial distribution. What is the standard deviation that we will use for this approximation? Round your answer to the tenths place.

Homework Answers

Answer #1

Solution: Determine if  we can use the normal approximation to the binomial distribution.

Answer: The conditions for approximating Binomial to Normal are:

and

We are given:

and

Since both the conditions are true. Hence we can use the normal approximation to the binomial distribution

What is the standard deviation that we will use for this approximation?

Answer:

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
a) A survey of recent first-time home buyers found that 45% of them plan to upgrade...
a) A survey of recent first-time home buyers found that 45% of them plan to upgrade to a bigger house within 5 years. You randomly select 30 recent first-time home buyers and ask them whether they plan to upgrade to a bigger home within 5 years. Use the normal approximation and the mean and standard deviation you found above to find the probability that more than 20 of the recent first-time home buyers plan to upgrade to a bigger home...
A survey of first-time home buyers found that the sample mean annual income was $43,300. Assume...
A survey of first-time home buyers found that the sample mean annual income was $43,300. Assume that the survey used a sample of 26 first-time home buyers and that the sample standard deviation was $1,200. Compute and explain a 90% confidence interval estimate of the population mean.
A survey of first-time home buyers found that the sample mean annual income was $46,000. Assume...
A survey of first-time home buyers found that the sample mean annual income was $46,000. Assume that the survey used a sample of 25 first-time home buyers and that the sample standard deviation was $1,100. Compute and explain a 95% confidence interval estimate of the population mean. Show you work
in a recent poll 45% of survey respondents said that if they would prefer the child...
in a recent poll 45% of survey respondents said that if they would prefer the child to be a boy. suppose you conducted a survey of 190 randomly selected students on your campus and find that 87 of them would prefer a boy a) use the normal approximation to the binomial to approximate the probability that in a random sample of 190 students at least 87 would prefer a boy assuming the true percentage is 45% b) does this result...
1. A survey of first-time homebuyers found that the sample mean annual income was $46,000. Assume...
1. A survey of first-time homebuyers found that the sample mean annual income was $46,000. Assume that the survey used a sample of 25 first-time home buyers and that the sample standard deviation was $1,100. Compute and explain a 95% confidence interval estimate of the population mean. 2. A telephone poll of 950 American adults asked: "where would you rather go in your spare time?" One response, by 275 adults, was "the Mall". Compute and explain a 99% confidence interval...
1. Ben has a home and is ready to purchase his first rental property. Ben found...
1. Ben has a home and is ready to purchase his first rental property. Ben found a property that needs some work so he can get a low price. He will use his own cash. The home is listed for $125,000 and it will need about $25,000 of rehab expense while he does the work himself over one year, at which time he will rent it out. He thinks that he will wait until the second year to do the...
1.You plan to randomly select 10 students from your campus and ask them how many minutes...
1.You plan to randomly select 10 students from your campus and ask them how many minutes they exercised in the past seven days. The distribution of values taken by the average exercising time in all possible samples of size 10 is the (a) probability distribution of exercising times. (b) sampling distribution of average exercising times. (c) variance of the exercising time values. (d) population parameter. Use the following to answer Questions 2-4. A researcher cross-classified 386 trout into groups based...
1. A random number generator is used to select a number from 1 to 500 ?(inclusively)....
1. A random number generator is used to select a number from 1 to 500 ?(inclusively). What is the probability of selecting the number 595 ? What is the probability? 2.Identify the sample space of the probability experiment and determine the number of outcomes in the sample space. -Randomly choosing an even number between 10 and 20, inclusive The sample space is? (Use a comma to separate answers) There are _____ outcomes in the sample space 3. Determine the number...
Question 1 2 pts Let x represent the height of first graders in a class. This...
Question 1 2 pts Let x represent the height of first graders in a class. This would be considered what type of variable: Nonsensical Lagging Continuous Discrete Flag this Question Question 2 2 pts Let x represent the height of corn in Oklahoma. This would be considered what type of variable: Discrete Inferential Distributed Continuous Flag this Question Question 3 2 pts Consider the following table. Age Group Frequency 18-29 9831 30-39 7845 40-49 6869 50-59 6323 60-69 5410 70...
Select the letter (a, b, c,d, e, f) with the most appropriate answer 1) The first...
Select the letter (a, b, c,d, e, f) with the most appropriate answer 1) The first step is to: A) Take care of the worst looking victim first B) Start where you stand C) Stop, look, listen and think D) Conduct voice triage Ans:........ 2) Triage which victim first? A) The worst looking victim B) The worst sounding victim C) The closest victim D) The youngest victim Ans:........ 3) An example of check mental status is: A) Do I remember...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT