SOLUTION: The question was According to USA today, only 3.2% of all product coupons are redeemed. If a company distributes 15,000 coupons, what is the probability that:
a) more than 500
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Question 363019: The question was According to USA today, only 3.2% of all product coupons are redeemed. If a company distributes 15,000 coupons, what is the probability that:
a) more than 500 will be redeemed
b) fewer than 450 will be redeemed
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The question was According to USA today, only 3.2% of all product coupons are redeemed. If a company distributes 15,000 coupons, what is the probability that:
a) more than 500 will be redeemed
z(500/15000) = z(0.0333) = (0.0333-0.032)/sqrt(0.032*0.968/15000) = 0.9046
P(p-hat > 0.3333) = P(z> 0.9046) = 0.1828
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b) fewer than 450 will be redeemed
z(450/15000) = (0.03-0.032)/0.001437 = -1.3918
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P(p-hat < 450) = P(z < -1.3918) = 0.0820
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Cheers,
Stan H.
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