SOLUTION: The percentage of people with advanced degrees is 16.5% on average. If 1000 people are randomly selected, what is the probability that the percentage of these people with advanced

Algebra ->  Probability-and-statistics -> SOLUTION: The percentage of people with advanced degrees is 16.5% on average. If 1000 people are randomly selected, what is the probability that the percentage of these people with advanced      Log On


   

Question 1106372: The percentage of people with advanced degrees is 16.5% on average. If 1000 people are randomly selected, what is the probability that the percentage of these people with advanced degrees is between 17% and 18.5%?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
The percentage of people with advanced degrees is 16.5% on average. If 1000 people are randomly selected, what is the probability that the percentage of these people with advanced degrees is between 17% and 18.5%?
-----
p = 0.165
q = 0.835
n = 1000
----
population standard deviation = sqrt(npq)
sample standard deviation = x/sqrt(n) = sqrt(p*q) = 0.37
-----
z(.17) = (0.17-0.165)/0.37 = 0.0135
z(0.185) = (0.185-0.165)/0.37 = 0.02/0.37 = 0.054
----
P(0.17 < p < 0.185) = P(0.0135< z < 0.054) = normalcdf(0.0135,0.054) = 0.0164
= 1.64%
---------
Cheers,
Stan H.