SOLUTION: According to a survey, only 15% of customers who visited the web site of a major retail store made a purchase. Random samples of size 50 are selected.
What is the average of all
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Question 928500: According to a survey, only 15% of customers who visited the web site of a major retail store made a purchase. Random samples of size 50 are selected.
What is the average of all the sample proportions of customers who will make a purchase after visiting the web site?
What is the standard deviation of all the sample proportions of customers who will make a purchase after visiting the web site?
What proportion of the samples will have between 20% and 30% of customers who will make a purchase after visiting the web site?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
According to a survey, only 15% of customers who visited the web site of a major retail store made a purchase. Random samples of size 50 are selected.
What is the average of all the sample proportions of customers who will make a purchase after visiting the web site?
Ans: 0.15
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What is the standard deviation of all the sample proportions of customers who will make a purchase after visiting the web site?
Ans; sqrt[0.15*0.85/50] = 0.05
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What proportion of the samples will have between 20% and 30% of customers who will make a purchase after visiting the web site?
z(0.2) = (0.2-0.15)/0.05 = 0.05/0.05 = 1
z(0.3) = (0.3-0.15)/0.05 = 0.15/0.05 = 3
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P(0.2 < p < 0.3) = P(1< z < 3) = 0.157
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Cheers,
Stan H.
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